Ukrainian e-bank Plans to Allow Bitcoin Trading Starting This July

Early in 2021, the decision had been made by the Ukrainian e-bank for enlisting itself along with other countries that are friendly and welcoming towards the cryptocurrency industry.  As per reports, a few months ago, working on the legislation around cryptocurrencies had been done by the Ukrainian Government and its Regulatory Authorities.

The Ukrainian financial institutions are also getting involved in it as their country is continuously progressing in the adoption of cryptocurrency. Whether digital or real-world financial institutions, the adoption of cryptocurrencies by them is progressing.

A major locally-based e-bank in Ukraine is just ready to offer its users a new product and service. An announcement has been made by this e-bank that preparations for the adoption of Bitcoin (BTC) trading are being made. For launching debit cards a process is also being put in place by the e-banking solution.

Monobank is the name of the particular e-banking application and in Ukraine, it is one of the most prominent online banking applications. On Monday, July 5, 2021, Oleg Gorokhovsky, co-founder of Monobank announced around Integration of Bitcoin.

Gorokhovsky revealed in the announcement that the pilot for the platform of cryptocurrency trading has already been integrated.  As soon as they finish the pilot integration process and implementations rightly made, the main version of the platform will be ready to launch.

It was also announced by Gorokhovsky that the new integrations once are in place in real-time, the dealing in Bitcoin by the Monobank users would be made possible. Buying and selling features of Bitcoin with the help of debit cards would enable them to be benefitted.

The CEO of Monobank further stated that for sure they will be able to launch the application by the end of this month. A response from the National Bank of Ukraine (NBU) is only awaited. As soon as approval from NBU is received for the launching of the application, Monobank will put all of its efforts into a successful launch.

For over 4 years from 2017, Monobank was launched and since then it has been operating in Ukraine. After the acquisition of the Universal Bank’s license, Monobank was launched in the Ukraine market. As per the reports, Sergey Tigipko is a tycoon who owns the Universal Bank.

Sergey Tigipko, before becoming the owner of Universal Bank, was Ex-Deputy Prime Minister of Ukraine and also the Chief of the former Central Bank.

Monobank had reported in August 2020 that in Ukraine a customer base of 2.5 Million had been achieved by them. As per the online banking solution, a lot of demand for cryptocurrency integration from their users was being received.

Now, it is the right time to adopt crypto-industry by Ukraine as it is constantly growing and also gaining legislative recognition here.