War in Ukraine: Equipment purchased by the authorities with cryptocurrencies

It’s official: Ukraine’s Ministry of Digital Transformation used cryptocurrencies and non-fungible tokens (NFTs), even CryptoPunks, in an effort to fund its military and humanitarian aid.

The use of cryptocurrencies by the army

When the war in Ukraine started, many organizations as well as individuals decided to use cryptocurrencies in order to support the efforts of the Ukrainian army. In a tweet posted recently, Ukrainian Minister of Digital Transformation Mykhailo Fedorov announced that using digital assets, the country bought five all-terrain vehicleswhich “will be useful in a difficult environment”.

Of the 5 new vehicles acquired by the army, three were obtained thanks to Aid for Ukraine, a platform that the government launched in March and which accepts donations in cryptocurrencies “to support people in their fight for freedom”.

Equipment purchased with cryptos

At the time of publication of this article, Aid for Ukraine has raised over $60 million in bitcoin (BTC), ether (ETH), tether (USDT), DOT from Polkadot, SOL from Solana and USD Coin (USDC). In addition, the platform purchased more than 5,000 “optical and thermal imaging devices” which it has made available to the army since the beginning of the war. Other equipment was also acquired using digital assets: tablets, bulletproof vests, medical supplies, vehicles and clothing.

Since the start of the Russian military invasion in February, the Ukrainian government has repeatedly turned to cryptocurrencies to receive funds. Fedorov announced in April that the government would accept contributions to the war effort in the form of non-fungible tokens, or NFTs, which will in turn be sold for “to contribute to the Ukrainian victory”. Mr. Fedorov recently launched a collection of charity NFTs with pieces from Ukrainian video game developers and digital artists.

In order to finance the Ukrainian army in its fight against Russia which invaded its territory, the Ukrainian authorities have revealed that they use the cryptocurrencies received from both sides. They have also announced that they will soon launch NFTs which will be used in the same direction.

Source : Cointelegraph

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War in Ukraine: Equipment purchased by the authorities with cryptocurrencies


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