Monobank, a leading electronic bank in Ukraine, is gearing up to launch Bitcoin (BTC/USD) trading in July. A report unveiled this news earlier today, citing the organization’s co-founder, Oleg Gorokhovsky. Reportedly, the company has already gone ahead to execute a pilot integration with an unnamed crypto trading platform that will enable the BTC trading feature.
According to the report, Monobank’s integration with the crypto trading platform will allow its users to purchase and sell the leading cryptocurrency through a debit card. With the launch of this functionality slated for later this month, Monobank is currently awaiting the approval of the National Bank of Ukraine.
Through this functionality, Monobank, which has been in existence since 2017, will expose BTC to its vast user base, which has grown over the years to surpass 2.5 million users. The e-bank operates under the license of Universal Bank, which is owned by Sergey Tigipko, a former Central Bank Governor and former Deputy Prime Minister of Ukraine.
This news comes as Ukraine continues working on several crypto-related bills. For instance, Oleksandr Bornyakov, Deputy Minister of the Ministry of Digital Transformation, said his office recommends embracing an updated bill on virtual assets. The Ukrainian parliament also passed a new law that deems a central bank digital currency (CBDC) a cash equivalent.