The fintech community is coming together across the world to raise money for Save the Children’s Ukraine Appeal.
Fintechs for Ukraine aims to encourage fintech businesses to donate and raise money for those affected by the crisis in Ukraine.
All the money will go directly to Save the Children’s Ukraine Appeal.
Started by virtual IBAN provider Monneo, there are currently 17 other companies involved, including Coinbase, ComplyAdvantage, Railsbank and payabl.
Lili Metodieva, managing director of Monneo, said, “As we watch the horror unfolding in Ukraine, we really wanted to find a way to help. We hope to encourage our colleagues and peers to stand together and raise as much money as we possibly can to directly help the people in Ukraine in desperate need of vital supplies.”
She explained that with members of Monneo’s team living and working in Ukraine right now, the crisis feels even more personal.
“Our initiative will hopefully raise awareness of the impact on our brave friends, families and colleagues affected by this terrible atrocity and raise funds which go directly to a charity helping people at this time of need,” she said.
As organisers of the appeal, Monneo has guaranteed there will be no fees on donated funds, no mark-ups on exchanges between currencies and that it will cover any third-party transaction fees.
The company has said it urges businesses to donate or promote the appeal, providing the fintech sector with “an avenue to come together and work as one in pursuit of a noble and relevant cause”.
Over the last fortnight, fintechs have been racing to support the people of Ukraine.
Revolut launched a Red Cross Ukraine appeal on its app across 26 markets and pledged to match customer donations up to £1.5m for a week.
ComplyAdvantage spoke to AltFi last week about how sanctions on Russia will affect the fintech space globally.
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