The world is jumping on to the Bitcoin bandwagon, and so is this Ukrainian bank that awaits the approval of the region’s central bank to roll out a Bitcoin debit card.
Bitcoin [BTC] rose to immense fame this year. While the world recovered from the Covid-19 pandemic, the crypto market was seen harboring the bull. The colossal step that BTC took this year was impeccable as it lured in an array of investors and traders. Since the market paved the way for a whole new population, governments across the globe were obligated to create laws governing the crypto-verse.
Monobank, a Ukrainian entity, has revealed that it intends to roll out a Bitcoin debit card later this month. The bank is currently waiting for the Ukrainian central bank to give them a green signal.
Ukrainian bank to roll out a BTC debit card
In a recent announcement, Monobank revealed that users would be able to purchase as well as sell Bitcoin with a mere debit card. This function saw the light of the day as the Ukrainian bank concluded its pilot integration. The co-founder of the bank, Oleg Gorokhovsky, also pointed out that this feature would be out and about only if the National Bank of Ukraine gives Monobank approval.
Back in February, in a Facebook post, Gorokhovsky suggested that Tesla’s move towards BTC, the $1.5 billion BTC purchase was what enticed the co-founder into the world of crypto. Soon after Tesla’s purchase, Gorokhovsky reportedly realized that BTC was here to stay. While Elon Musk’s notion towards BTC took a different turn, Gorokhovsky seems to have persisted in the same trend.
Ukraine has been embracing cryptocurrencies for a while now. Ukraine even stood first in “The 2020 Global Crypto Adoption Index: Cryptocurrency is a Global Phenomenon” survey. In addition to this, the Ukrainian government partnered with the Stellar Development Foundation to garner a deeper understanding of digital assets before rolling out its CBDC.