Kraken to distribute over $10 million in aid to clients affected by the war in Ukraine.
Ukrainian users will be able to immediately withdraw the funds from the exchange while currency conversion fees for amounts of up to $1,000 will be waived. The first of three planned tranches will be approximately equivalent to the total of the fees paid by residents of Ukraine since 2013.
We hope to continue being able to provide critical financial services in a time of need to both our clients in Ukraine and in Russia. Cryptocurrency remains an important humanitarian tool, especially at a time when many around the world can no longer rely on traditional banks and custodians.crypto exchanges to freeze the accounts of Russian users. However, major global platforms, including Kraken and Binance, denied the request to unilaterally impose such restrictions on all traders from Russia.
We believe this aid program benefits both our company and our clients, ensuring none are disenfranchised by the actions of their representatives and leaders.
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