Belarus Launches Crypto Exchange

Belarusbank, the largest bank in Belarus, has launched a service that allows its clients to buy and sell cryptocurrency using a Visa credit card. This became possible thanks to the collaboration with WhiteBird. Currently WhiteBird is the only company legally allowed to act as a cryptocurrency exchange service provider in the CIS countries, as well as in Georgia and Ukraine.

The introduction of the feature of buying and selling cryptocurrency through a bank has been planned for a long time. The first step in this direction was taken in 2017, when President Alexander LUKASHENKO legalized digital currencies. Two years later, in 2019, Belarusbank announced that it plans to launch its own crypto exchange. According to the Belarusian news agency, the plan was fulfilled within a year. Trading in cryptocurrencies has become possible for bank users since November 13.

The service can only be used by residents of Belarus and Russia. However, over time, the number of countries will expand. It is also planned to increase the number of cryptocurrencies that can be bought or sold through the bank. The new service is limited to some fiat currencies. At the moment, users can buy or sell cryptocurrency only for Belarusian and Russian rubles, euros or US dollars.

Image: Blizko