Belarusbank and WhiteBird have opened a service to exchange bitcoin for fiat currencies

One of the largest Belarusian banks, Belarusbank, together with the firm WhiteBird, today launched a service to exchange bitcoin for three fiat currencies, including the Russian ruble.

As stated on the WhiteBird website, the service allows exchanging bitcoin for Belarusian and Russian rubles, as well as for US dollars. No commission is charged on the cards of Belarusbank, but the issuers of other cards may charge additional fees for the transfer.

Transactions on purchase and sale of digital currencies with Belarusian residents are carried out in Belarusian rubles. The minimum amount of a single exchange is $50, and the amount of convertible funds must not exceed $10,000 per month. If it is necessary to make a transaction worth more than $10,000, the user should contact the support service and explain the origin of the money;

Today the service allows using the cards valid in 11 countries: Belarus, Russia, Ukraine, Georgia, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Uzbekistan. Before making financial transactions through the service, it is necessary to register in it and pass procedure KYC. Individuals must provide their full name, date of birth, address of residence, e-mail address and identity document details. To further secure your account, WhiteBird uses two-factor authentication;

According to the media, it is planned to expand the list of cryptographic currencies for exchange and provide users with additional functions in the future. The firm WhiteBird became a partner of Belarusbank in 2018. The service of cryptocurrency exchange was launched as part of the digital transformation initiative, implemented by Belarusbank to combine traditional finance with the latest technology. It should be noted that last year Belarusbank declared its intention to create an exchange platform for trading in cryptov currencies;

Besides, in January 2019, the crypt currency exchange was launched in the Republic of Belarus the crypt currency exchange allowing trading in tokenized assets for raw materials, shares and indices linked to the base market value of traditional financial assets;