Ukrainian Supermarket set to Accept Cryptocurrency Via Binance Pay

Noemi B. Noemi B.
21 Sept 2022
3 min read
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Ukrainian Supermarket set to Accept Cryptocurrency Via Binance Pay

Binance has recently announced that it has partnered with VARUS, one of the largest grocery store companies in Ukraine, to facilitate cryptocurrency payments for grocery purchases through its Binance Pay wallet.

With more than 111 stores in 28 cities across the country, VARUS stated that this partnership will allow its customers to access seamless cryptocurrency payments and fast delivery in nine cities in Ukraine: Kyiv, Dnipro, Kamensk, Kriverich, Zaporo Heat, Brovalli, Nikopol, Vishhorod and Pavlograd.

The companies also announced a Reward Fund Promotion, eligible from September 15th to October 15th, that offers two initiatives:

  •  A reward worth UAH 100 (around $3) to customers who make an order worth more than UAH 500 (around $14) and have used Binance Pay to pay for their order.
  •  A reward worth UAH 5,000 (around $135) will be distributed weekly to 5 random winners, chosen by Binance, from the customers who used Binance Pay to purchase their goods.

Lead by Example

VARUS is not the first retail brand to adopt cryptocurrency payments to facilitate customer purchases.

The Foxtrot chain of stores for home appliances and electronics became the first exclusive partner of the Binance blockchain. On the 31st of May, they launched the ability to pay for goods on their online store and their retail outlets with Binance Pay.

“For us, this is the first integration of Binance Pay with an e-commerce partner in Ukraine, and we hope to continue development in this direction,” said Binance General Manager in Ukraine Kirill Khomyakov.

A month ago, Whitepay introduced cryptocurrency as a payment method for all products delivered by leading technology stores in Ukraine. Retail stores such as Tehnoezh and Stylus are accepting crypto payments from customers via the payment platform launched by WhiteBIT, a European crypto exchange.

Over the last few years, Ukraine has turned out to be a regional leader when it comes to crypto adoption. The nation has also made efforts in the direction of regulating the industry in a better way.

Ukraine has enjoyed massive support from the crypto industry

Earlier this year, the largest cryptocurrency exchange Binance, launched the "Binance Refugee Crypto Card", a crypto debit card that the company intended for the people who have been displaced. The card is free, but refugees need a Binance account and a valid Ukrainian passport. Once approved for the card, Binance will give refugees a monthly $75 for three months in its stablecoin Binance USD, which the card will automatically convert to local currency during a purchase.

At such a difficult time for Ukraine, it’s clear that cryptocurrencies are useful as they offer a fast, cheap, and secure way of transferring funds to help people with their urgent financial needs, said Helen Hai, head of Binance Charity, in a press release.

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Noemi B.
Noemi B.
About the Author

Crypto Educator, DeFi & Web 3 Content Writer

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