Monobank, one of the digital banks in Ukraine, plans to offer Bitcoin trading services this month. On the other hand, Monobank is waiting for approval from the National Bank of Ukraine to launch its debit card, which can be settled with Bitcoin, at the end of this month.
While the Ukrainian government is making progress in its preparation for cryptocurrencies, Monobank, the major local digital bank in the country, is preparing to launch a debit card with Bitcoin (BTC) trading. Monobank co-founder Oleg Gorokhovsky announced in a statement that it has completed a pilot integration of Ukrainian online banking application Monobank with a cryptocurrency trading platform.
Monobank has 2.5 million customers
According to Gorokhovsky, this integration will allow Monobank users to buy and sell Bitcoin with a debit card. He noted that Monobank expects to release the new feature later this month until it receives approval from the National Bank of Ukraine.
Launched in 2017, Monobank operates under license from Universal Bank, owned by businessman Sergey Tigipko, a former central bank governor and former deputy prime minister of Ukraine. As of August 2020, Monobank’s user base reportedly has more than 2.5 million customers.
Monobank’s Gorokhovsky, who is also the former vice chairman of the board of PrivatBank, Ukraine’s largest commercial bank, expressed his optimism about Bitcoin earlier this year. In a Facebook post in February, Gorokhovsky said that Tesla’s $1.5 billion purchase of Bitcoin finally convinced him to believe that Bitcoin was permanent. He also announced that he has a significant investment in Bitcoin, stating that he thinks BTC will reach $100K by 2022.
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