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Ukrainian Pharmacy Chain Introduces Cryptocurrency Payments

A major Ukrainian chain of pharmacies has started accepting cryptocurrency through Binance Pay. The new payment method will be available online, according to the company, which operates hundreds of drugstores across the war-torn Eastern European nation.

Customers of the Ukrainian pharmacy chain ANC can now buy medicines and other items using a number of cryptocurrencies. The new payment option is accessible since Tuesday, the company announced, claiming it has become the first pharmacy chain in Europe to offer it.

The coin transactions will be processed through Binance Pay, the payment system developed by the world’s largest digital asset exchange by trading volume. It allows users and businesses around the world to spend, send, and receive over 70 digital currencies like bitcoin.

To take advantage of the service, customers will have to download and install the Binance app, go to the ANC website, place an order and cover the bill using Binance Pay. Then they can receive the products or pick them up at any of the chain’s stores.

ANC operates a network of pharmacies under its brand name and unites several other Ukrainian chains such as Blagodiya, Kopiyka and [email protected] It has stores in over 130 Ukrainian cities with more than 7 million customers annually. The crypto payments are initially available in the capital Kyiv.

In the past few years, Ukraine established itself as a regional leader in crypto adoption. Since Russia launched its invasion in late February, the country’s government and volunteer organizations have been relying on cryptocurrency donations to fund defense and humanitarian initiatives, also supported by the industry.

Binance Pay has been employed by other Ukrainian businesses to enable crypto payments. In September of this year, a supermarket chain with over 100 stores in Ukraine, called Varus, integrated the payment system to offer its clients in Kyiv, Dnipro, Zaporizhzhia, and other cities the option to spend coins on groceries.

And in August, the Ukrainian tech stores Tehnoezh and Stylus introduced crypto payments through Whitepay, a similar payment platform developed by Whitebit, a European cryptocurrency exchange with Ukrainian roots.

Do you expect more Ukrainian businesses and sectors to adopt cryptocurrency as a payment option? Tell us in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Andrey Abryutin / Shutterstock.com

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