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Ukrainian supermarket chain Varus begins accepting payments in cryptocurrencies

Ukrainian supermarket chain Varus has signed a partnership agreement with cryptocurrency exchange Binance, allowing customers to pay for purchases with digital assets. Residents of Ukraine will be able to select food and other products from Varus supermarkets remotely, as well as order delivery by paying with crypto-assets. The function will be available for residents of nine cities: Kiev, Dnipro, Kamenskyi, Kryvyi Rih, Zaporizhzhya, Brovary, Nikopol, Vyshgorod and Pavlograd. In order to use the service, residents of these cities need to install the Binance Pay app on their Android or iOS devices. The Binance Pay service was recently integrated into Virtuzone’s payment infrastructure to pay for blockchain and cryptocurrency company registration services in the UAE. Military action in Ukraine has led to significant changes in payments and logistics, and this could accelerate the adoption of digital assets. In February, Ukraine’s Verkhovna Rada approved a bill to legalise cryptocurrencies, allowing cryptocurrency companies to operate legally in the country. However, the law does not grant crypto-assets the status of legal tender. Binance has long been engaged with the Ukrainian government. In 2019, the exchange signed an agreement with the Ministry of Digital Transformation to develop new regulations for crypto-assets. In February, Binance’s Ukrainian head Kirill Khomyakov announced the launch of a cryptocurrency payment card that can be used to pay with digital currencies in retail outlets. Crypto-assets on the owner’s balance should be automatically converted into Ukrainian hryvnia.