Long-standing digital asset investment firm CoinShares has handed €19,200 raised with Bitcoin donations to the Ukrainian relief effort.
The Jersey-based crypto company will be funding a Polish logistics firm to transport hundreds of pallets and cargo bags of items donated by islanders to assist aid efforts. Nine trucks will be making the 1,000-mile journey from St Malo to Poland.
Some 343 pallets and bags have been collected by ‘Polish-Jersey Help for Ukraine’, with Condor Ferries hauling the HGVs free-of-charge from Jersey to St Malo ahead of the overland journey. CoinShares’ Bitcoin donation covers the cost of 303 pallets.
The donation – part of the company’s ESG impact initiatives and wider charitable commitments – is viewed by company bosses as a demonstration of the potency of cryptocurrency as a fast, secure way of funding relief efforts, which can be harnessed without the need for centralised banks’ involvement.
“It’s only right that individuals and companies do what they can to alleviate the impact of the events in Ukraine. The team at CoinShares was very keen to play a part,” said Jean-Marie Mognetti, Chief Executive Officer of CoinShares.
“It has been fantastic to see the generosity of local Jersey residents and companies, and of Condor Ferries in transporting the goods to mainland Europe free of charge. Being able to transfer funds to the Polish logistics company instantly and securely via Bitcoin meant the supplies could continue that journey without delay and make a tangible difference for those affected.”