Ukrainian e-bank plans to offer Bitcoin trading in July

A major local ebank is planning to launch a Bitcoin debit card with trading ( BTC) as the Ukrainian government moves forward with cryptocurrency-related legislation.

Monobank, a Ukrainian online banking app, has successfully integrated with a cryptocurrency trading platform. Monobank co-founder Oleg Gorodokhovsky said Monday.

The new integration will allow Monobank customers to buy and trade Bitcoin using a debit card, according to the executive. Gorokhovsky stated that Monobank will release the new feature in the next month, subject to approval by the National Bank of Ukraine.

Monobank was launched in 2017 under the license of Universal Bank, owned by Sergey Tigipko (a former chief of central banks and ex-deputy prime Minister of Ukraine). Monobank has more than 2.5 million customers as of August 2020.

Monobank’s Gorokhovsky is also the former chairman of PrivatBank, which is the largest bank in Ukraine. He expressed his optimism about Bitcoin earlier in this year. Gorokhovsky stated in a February Facebook post that he was convinced by Tesla’s $1.5 billion Bitcoin purchase that Bitcoin is here to stay. Gorokhovsky also revealed a large personal stake in Bitcoin and predicted that BTC would reach $100,000 by 2022.

The Ukrainian authorities are making steady progress with a series of bills related to digital currency. Oleksandr Bornyakov (deputy minister of the Ministry of Digital Transformation) stated last Wednesday, that the authority had recommended the adoption of a revised draft bill “On Virtual Assets” in the second reading.

The Ukrainian parliament also passed new legislation on Wednesday regulating payment methods. This includes regulations regarding the central bank’s digital currency.

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