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Binance Teams Up With Ukrainian Pharmacies

Author

John Asher

Tags

Reading time

2 mins
Last update

Author

John Asher

Tags

Category

News - Archive

Reading time

2 mins
Last update

Author

John Asher

Tags

Reading time

2 mins
Last update


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Ukraine has positioned itself as a crypto-friendly country and also taking the lead in the adoption of digital payments. Ukrainian pharmacies now accept payments in cryptocurrencies via Binance Pay.

Ukrainians Can Now Order Pharmaceutical Products With Crypto

ANC Pharmacy announced that it has launched a new instant payment system, which will allow customers to buy pharmaceutical products and medical supplies online using digital currencies. ANC Pharmacy has collaborated with the world’s largest cryptocurrency exchange, Binance.

ANC Pharmacy, is a major pharmacy chain in Ukraine and has more than 1,000 outlets across the country. The announcement said that payments using Binance Pay will be initially rolled out in Kyiv. Users need to download the Binance application and then go to ANC’s website to select any item of their choice from their online store. Users will be able to pay using Binance Pay and pick up their order at a preferred location.

Binance has been active in supporting the Ukrainian people since Russia invaded Ukraine in February 2022 and donated $10 million to support locals affected by the military conflict in the country.

Ukraine’s Embracing Crypto Adoption

In the latest edition of the 2022 Global Crypto Adoption Index, published by American-based blockchain analysis firm Chainalysis, Ukraine ranked third out of 146 countries. Ukraine is evidently embracing the adoption of digital assets and the cryptocurrency ecosystem. Thus Binance is taking the initiative of expanding its digital presence in Ukraine.

Binance Ukraine’s general manager, Kirill Khomyakov said the team is actively working on launching Binance Card. Moreover, he highlighted that crypto payments via services like Binance Card do not conflict with Ukrainian law because there is no ban on crypto-derived transactions in the country. Local laws do not prohibit paying in crypto if it’s converted into fiat.

In September 2022, Binance has partnered with  Varus, a leading supermarket chain in Ukraine. The supermarket chain has more than 100 supermarkets across the country. The partnership will allow shoppers to buy food and other goods online with digital assets. This gives its consumers access to quick delivery and instant cryptocurrency payments in nine Ukrainian cities: Kyiv, Dnipro, Kamianske, Kryvyi Rih, Zaporizhzhia, Brovary, Nikopol, Vyshhorod, and Pavlograd.