Ukraine’s adoption of cryptocurrency continues, more recently with one of the largest pharmacy chains in the nation, ANC Pharmacy, now accepting digital payments.
ANC Pharmacy has teamed up with Binance Ukraine to accept contactless cryptocurrency payments via Binance Pay. With more than 1,000 stores across Ukraine, it is said to be one of the largest executions of Bitcoin payments in Europe, according to Coin Telegraph. World events such as the current war in the country have reinforced the importance of having a more independent currency, not tied to a specific country or region.
According to Binance Ukraine’s General Manager, Kirill Khomyakov, crypto payments services such as Binance Card are legal as there is no current ban on crypto-sourced transactions in the country.
In order to use the crypto payments, users will need to download the Binance app and then open ANC’s website. Once a product has been selected online, users can make their payment by using Binance Pay and pick up their order at their chosen location.
Over the past few years, Binance has been making headway across Ukraine, promoting crypto adoption. In September 2022, Binance collaborated with Varus, a Ukrainian supermarket, to enable customers to make their grocery purchases via the Binance Pay Wallet.
By and large, cryptocurrency is seeing worldwide adoption and across numerous industries. This is especially beneficial for e-commerce businesses. PaymentsJournal has written about the importance of using crypto payments, especially during times of uncertainty.
“One of the big criticisms of cryptocurrencies is that it’s a solution in search of a problem, but the conflict in Ukraine has shown exactly how cryptocurrencies can be used where fiat currencies, financial services, and payment infrastructure are unavailable or unreliable. Where that isn’t an issue, it’s easy to forget that access to digital payments isn’t guaranteed in many parts of the world. Crypto is already offering a solution to those challenges,” said James Wester, Director of Cryptocurrency and Co-Head of Payments at Mercator Advisory Group.