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Ukrainian e-bank Intends To Hold Bitcoin Negotiations In July

Monobank is looking for an endorsement from the National Bank of Ukraine to release its Bitcoin debit card later this month. According to the Ukrainian government’s development with cryptocurrency-related legislation, a lead local e-bank is priming to launch a debit card featuring Bitcoin (BTC) negotiation.

In an announcement from Monobank co-founder Oleg Gorokhovsky this Monday, Ukrainian online banking application Monobank has concluded a pilot integration with a cryptocurrency trading platform. According to him, the recent incorporation will allow Monobank users to purchase and sell Bitcoin with a debit card.

Gorokhovsky has noted that Monobank hopes to launch the new resource later this month depending on the agreement of the National Bank of Ukraine. Monobank was initiated in 2017 and handles under the license of Universal Bank owned by tycoon Sergey Tigipko, a former central bank chief and ex-deputy prime minister of Ukraine. Furthermore, Monobank’s user base reportedly accumulated over 2.5 million clients in August 2020.

In a Facebook post in February, Monobank’s Gorokhovsky, who is also a former deputy board chairman at PrivatBank demonstrated that he was very bullish about Bitcoin earlier this year. In this post, Gorokhovsky declared that Tesla’s $1.5-billion Bitcoin buy persuaded him to believe that Bitcoin is here to stay and he also revealed a meaningful personal bet in Bitcoin, predicting that BTC will have hit $100,000 by 2022.

Ukrainian authorities are constantly advancing with a set of digital currency-related bills. Oleksandr Bornyakov, deputy minister of the Ministry of Digital Transformation, announced last Wednesday that the authority suggested the adoption of an updated project bill “On Virtual Assets” in the second reading.

The Ukrainian parliament also allowed recent legislation regulating payment methods on Wednesday, inserting regulations regarding Ukraine’s central bank digital currency.

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