Ukrainian cryptocurrency exchange may issue its own cryptocurrency card

Monobank co-founder Oleg Gorokhovsky has announced the possibility of issuing a cryptocurrency card in partnership with the WhiteBIT crypto exchange. This was reported by Incrypted.

It is worth noting that this is a fundraiser for FPV drones for the Armed Forces of Ukraine, which Monobank announced on November 22 on its 6th anniversary.

It is noteworthy that this is not the first time the bank has talked about issuing a cryptocard. Monobank prepared a project back in 2021, but it was not approved by the NBU, as Gorokhovsky himself mentioned:

«Earlier we reported that Monobank does not plan to add bitcoin as a payment option for its services. This was stated by the co-founder of the service, Mikhail Rogalsky. According to him, the first cryptocurrency «has a very bad reputation» among European and Ukrainian regulators.

«Since we have our own important core business, it would be illogical to jeopardize it by working with a high-risk asset,» Rogalsky emphasized.

We would like to add that Ukrainian bank customers lose millions on «non-existent exchanges» every month in their smartphones. In October, Ukrainian citizens lost a record 6 million hryvnias. This was reported earlier by Oleg Gorokhovsky.

According to him, amid the war, the desire to make «easy money» is growing among Ukrainians. Horokhovsky reminded that he had previously released statistics on fraud on Monobank cards from March to July 2023. At that time, the bank’s customers paid about UAH 3 million a month to «brokers and exchanges».