After Germany, Ukrainian Bank Adopts Bitcoin!


After Germany, Ukraine became the second country in Europe to adopt Bitcoin trading. One of Ukraine’s E-bank called Monobank has launched a Bitcoin trading feature for their clients.

According to the bank, the bitcoin trading will be done through newly issued debit cards. This feature will commence in July, 2021 provided that it receives approval from the National Bank of Ukraine.

The E-bank has over 2.5 million users who will have access to Bitcoin if it receives the necessary approval.

The new participation in Bitcoin will greatly impact its value in the long term. Moreover, the Ukrainian citizens will now be able to gain access to this asset class.

The company’s co-founder Oleg Gorokhovsky, announced that the E-bank has completed software integration with the cryptocurrency trading platform.

Monobank enters Bitcoin
Source: Mono Token

The co-founder facilitated the launch of this exclusive feature through his bank because he believes that Bitcoin is the future of banking.

On various occasions he has supported Bitcoin and asserted that he holds a large portfolio of Bitcoin. He further added that Tesla’s $1.5 billion investment in Bitcoin increased his conviction in the coin’s future.

He also said that he predicts the value of Bitcoin to touch $100,000 by 2022.

Being a firm believer in its future and his want for more people to invest in it, he facilitated his bank to launch a debit card with which people can invest in Bitcoin conveniently.

Does Ukraine Support Bitcoin?

Another interesting thing to note is that even though it is a bank that is launching a crypto trading feature, the Ukrainian government may also be supporting it.

The e-bank, Monobank, is a subsidiary of another bank, Universal Bank. This bank is headed by a former central bank chief and deputy prime minister.

Furthermore, the Ukrainian ministry of energy announced its decision to build energy plants so as to mine Bitcoin.

It wouldn’t be surprising to assume that the government supported Bitcoin too.

This development along with Germany’s adoption of cryptocurrency highlights the mass interest in it.

It is believed that Germany’s entry into Bitcoin encouraged other countries such as Ukraine to adopt it too.

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