Almost 10 million people have been forced to flee their homes so far.
Binance previously pledged $10 million to aid those affected by the Ukrainian situation.
UNHCR, the UN agency for refugees, has received its first stablecoin crypto payment to aid families fleeing Ukraine to neighbouring nations. In addition, cryptocurrency exchange Binance made a $2.5 million contribution to the Binance Charity. As an example of how cryptocurrencies may be used to raise money and provide relief in the Ukraine situation, Binance USD (BUSD) contributed.
The money will help those in need via humanitarian, legal, and social means, such as counselling and temporary lodging. Because of the crisis, almost 10 million people have been forced to flee their homes thus far. Millions have been pushed from their homes yet remain in Ukraine, with four million finding refuge in neighbouring countries such as Poland and Moldova as well as Romania and Hungary.
Contribution to UNHCR
Anne-Marie Grey, executive director and CEO of USA for UNHCR said:
“Binance Charity’s commitment to the families fleeing the war in Ukraine shows the innovative philanthropic power of crypto in action.”
Ongoing UNHCR cooperation with governments, UN agencies, local communities, and other partners in the area is facilitated by Binance Charity’s contribution to UNHCR at this critical time. Binance previously pledged $10 million to aid those affected by the Ukrainian situation. More than $4.5 million has already been contributed via Binance Charity, raising the total to $7 million, including financing for UNHCR in the United States.
It is expected that the last $3 million donations will be disclosed soon. Binance Charity has also developed a crowd-funding platform, garnered roughly $900,000 from the crypto community. This money will be used for humanitarian purposes as well.