UN Refugee Agency Secures $2.5m in Stablecoin Donation for Ukraine

As the war in Ukraine continues to bear its toll, the USA for UNHCR, United Nations Refugee Agency, has received a donation of $2.5 million to support families that are most impacted by the ongoing crisis.

According to an announcement shared by the UN Agency, the funding was domiciled in Binance USD (BUSD) stablecoin and was from the Binance Charity organization.

The agency has affirmed that the funds will be used to support the more than 10 million Ukrainians that have been displaced thus far and forced to seek refuge in neighbouring countries. Specifically, the funds will be pumped to aid humanitarian, legal and social assistance to these affected people, including psychosocial support and emergency shelter for those who may need it.

“Binance Charity’s commitment to the families fleeing the war in Ukraine shows the innovative philanthropic power of crypto in action,” said Anne-Marie Grey, Executive Director and CEO of USA for UNHCR. “This generous support will make a life-changing difference for families forced to flee, and more importantly, it shows families that a caring and committed global community is stepping forward to help during their darkest times.”

The stablecoin donation has shown that cryptocurrencies are “playing a key role in raising vital funds and providing humanitarian aid for the crisis in Ukraine. Besides this donation, Binance has earlier supported the humanitarian crisis in Ukraine with the sum of $10 million, a sum that comes off as a fraction of the massive support stakeholders in the crypto ecosystem have lent to the Ukrainian government and people.

“Every day we see more casualties, more destruction, more lives lost. Our hearts ache for the people of Ukraine. We are proud that we’ve been able to work with UNHCR to deliver its first BUSD crypto donation. UNHCR’s tireless efforts and second-to-none experience in assisting refugees, makes them an obvious choice to support as part of our $10 million USD in crypto donations,” said Helen Hai, Head of Binance Charity.

Besides the direct donations, Binance has also floated a crypto crowdfunding page to complement the broader industry’s donation efforts to the war-torn country.

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