Users of the FAVBET platform, a leading entertainment service provider, will soon be able to create cryptocurrency wallets and fund their accounts with seven of the most popular virtual currencies.
The company notes that after the amendments to the Tax Code of Ukraine come into force and the regulatory framework governing the taxation and processing of virtual assets is approved, there will be opportunities for integrating new payment instruments.
All technical processes on the part of FAVBET have been completed, and the company is simply waiting for the country’s government to approve the operating rules.
Representatives of FAVBET said: «We’ve started testing the new payment options immediately after the legalization of cryptocurrency in March this year. There’s been a lot of interest surrounding the topic, so we’re excited to soon be expanding the functionality to all of our platforms. The updated legislation will put Ukraine on par with the most progressive countries in the world, and we’re pleased that FAVBET has always been and still remains among the drivers of these positive changes.»
According to the Global Crypto Adoption Index 2021, Ukraine is one of the top five countries in cryptocurrency trading: more than 5.5 million Ukrainians own cryptocurrency assets.
The start of the war also made virtual coins a powerful fundraising tool. For example, in July this year alone, the digital ministry platform Aid for Ukraine reported $54 million in virtual asset donations.
Users of the FAVBET platform can fund their accounts with seven popular cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Tether USD (Erc20), Tether USD (Trc20) and Tron. The company emphasizes that it is open to cooperation with industry leaders, and the number of options available will only grow.
Paying with cryptocurrencies is as easy as paying with a card. Users simply create a cryptocurrency wallet in their account and select the desired coins. FAVBET Group is one of the largest providers of entertainment technology solutions in Ukraine and the most powerful player in the technology market.
This year, FAVBET Tech became a member of the IT Association and, together with other members of the association, supports the activities of the Cyber Army of Ukraine in delivering a crushing blow to hostile IT infrastructure.
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