Ukraine’s two largest tech wholesalers accept bitcoin

Last Updated: 5 September 2022

Techno Їzhak and Stylus will both accept bitcoin. For the average Dutch person, these names may be unknown and meaningless, but they are two of the largest technology-focused retailers in Ukraine.

Bitcoin payments

Local news medium Obozrevatel writes that the two tech retailers will accept bitcoin for goods and services. Stylus is a wholesale company for electronic items founded in 2008.

They are going to use the payment provider called Whitepay. This is the subsidiary of the European crypto exchange WhiteBIT. Besides Ukraine, they also operate in Turkey and the United Arab Emirates.

According to reports, the cooperation allows Ukrainians to pay with bitcoin both on the webshop and in physical shops. This would involve more than 100 locations.

A separate cash register system has been created with Whitepay’s service that generates an additional bitcoin QR code. Here one can also see the current exchange rate and, for example, the time taken for the transaction.

Techno Їzhak previously worked with Whitepay on gift cards with the hryvnia, the local currency, and also USDT.

Ukraine

According to reports, Ukrainian interest in bitcoin has grown during the Russian invasion. Earlier, President Zelensky signed an “On Virtual Currency” law. This provides a legal framework for bitcoin.

The country also accepted bitcoin donations to purchase additional defence equipment. More than $54 million in crypto currency has since been donated, and has been used for drones, software, and other military supplies.

Partly for this reason, the government of Finland was planning to donate bitcoin to Ukraine, which had confiscated it. However, Finnish politicians find the direct sending of bitcoin too exciting, the HS newspaper reported.

The Finnish government’s 1,291 bitcoin were seized by customs during criminal investigations.

Author
  • Gabriele Spapperi

    Gabriele Spapperi is a veteran cryptocurrency investor and blockchain technology specialist. He became fascinated with Bitcoin and distributed ledgers while studying computer science at MIT in 2011.

    Since 2013, Gabriele has actively traded major cryptocurrencies and identified early-stage projects to invest in. He contributes articles to leading fintech publications sharing his insights on blockchain technology, crypto markets, and trading strategies.

    With over a decade of experience in the crypto space, Gabriele provides reliable insights and analysis on the latest developments in digital assets and blockchain platforms. When he's not analyzing crypto markets, Gabriele enjoys travel, golf, and fine wine. He currently resides in Austin, Texas.

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