Connect with us

Hi, what are you looking for?

ELEVENEWS

Cryptocurrency

The Largest Bank In Belarus Launched A Cryptocurrency Exchange Service

While the country continues with political turmoil and protests, the largest bank in Belarus has launched a cryptocurrency exchange service.

The largest bank in Belarus – the ASB Belarusbank – has reportedly launched a legal service enabling customers from the country and Russia to purchase cryptocurrencies.

Users will be able to exchange digital assets for Belarusian and Russian rubles, US dollars, and euros directly with their Visa payment cards.

Belarusbank To Allow Crypto Purchases

According to the Prime Press coverage, the largest bank in Belarus by volume of equity, assets, loans, and deposits has partnered with a cryptocurrency exchange called White Bird to launch the new service starting today – November 13th.

Initially, only citizens of the Republic of Belarus and the Russian Federation will be able to interact with cryptocurrencies through the bank. However, the entity plans to expand the list of nations soon.

The bank started a larger program for digital transformation years ago, and the release of the cryptocurrency service is the first significant step.

It’s worth noting that the report hasn’t disclosed which cryptocurrency assets will be available for purchase through the bank. However, White Bird has promised that the list will be “extensive,” and the operator plans to include additional features to be combined with the traditional financial sector.

Bulding Of ASB Belarusbank
Bulding Of ASB Belarusbank. Source: Wikipedia

The Protests In Belarus

The launch of this service comes during times of uncertainty and political protests in the country. The Belarusian population has been on the streets protesting for the better part of 2020.

The first minor demonstrations began in the lead-up and during the presidential elections. However, they dramatically intensified once it was announced that President Alexander Lukashenko has won for the sixth time. He has been in office since 1994.

Lukashenko’s primary opponent, Sviatlana Tsikhanouskaya, rejected the legitimacy of the outcome. Even the European Union followed suit, called for new elections, and condemned the repression and violence against the protesters.

The EU introduced sanctions against 40 Belarusian officials accused of political repression and vote-rigging, but Lukashenko was not part of that list. Interestingly, the government imposed symmetrical sanctions against an undisclosed number of EU officials in response.

What’s more, Lukashenko blamed the Union for trying to “harm Belarus” by destabilizing the current regime while supporting the opposition.

So far, Lukashenko has remained in power while the protests continue. Unfortunately, the authorities have been openly violent against the demonstrators with numerous cases of missing, injured, and even dead people.

News Source

Advertisement

Trending Post

Chainlink

ChainLink is basically very exciting.  Users have to state that it stirs the imagination and passions of the community in ways that other projects...

IOTA

Senseering offers an IOTA-based solution to create a marketplace for data that can be shared among partners. Senseering’s solution will be used in collaboration...

Ripple

Cryptocurrency investment is becoming a common trend. In the fourth quarter of the year, when investments are said to start doing well, how are...

VeChain

VeChain (VET), BTCMVMNT, and Team Zuby have joined forces to create a limited-edition merchandise collection dubbed “Take the Power Back.” The team says the...

Copyright © ELEVENEWS