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Belarus: Belarusbank Unveils Bitcoin Purchase Service, Ether and Litecoin Support to Follow

A major Belarus bank plans to offer bitcoin (BTC) purchases.

Plans to Add Support for Other Cryptocurrencies

In an official announcement made today, one of the largest credit institutions in Belarus, Belarusbank stated that it had inked an alliance with OTC broker White Bird to give customers the option to buy bitcoin directly from the bank.

Per sources close to the matter, for the time being, purchases will be available through bank cards issued in Belarus and Russia. However, in the future, Belarusbank bank plans to sell digital currencies in other neighboring Eastern European countries, including Ukraine, Georgia, and the Commonwealth of Independent States (CIS) nations. 

Belarusbank spokesperson, Alexei Kulik, bank customers will be able to withdraw bitcoin (BTC) directly to their crypto wallets without any intermediary. Notably, the newly unveiled service will tap White Bird’s online infrastructure.

Similarly, in an email sent to Coindesk, Kulik highlighted that litecoin (LTC) and ether (ETH) are also expected to be added to the service soon.

As previously reported, Belarusbank had displayed an interest in delving into the cryptocurrency service space. Now, with the announcement made officially, crypto-enthusiasts in Belarus would welcome the pro-crypto decision taken by one of the country’s largest banks.

Crypto Regulations in Eastern European Countries

Historically, Belarus has been one of the more receptive European countries with friendly crypto regulations to promote innovation in this rapidly evolving space.

Back in 2017, Alexander Lukashenko, the President of Belarus signed a decree legalizing the use of bitcoin and other cryptocurrencies in the country.

Neighboring countries, such as Estonia, for instance, has also shown an embracing stance towards cryptocurrencies. Last month, it was reported that the Estonian Central Bank – Eesti Bank – had officially launched research toward developing a central bank digital currency (CBDC).

Similarly, in July, the Polish Financial Supervision Authority (KNF) announced that it was mulling developing a conducive cryptocurrency regulatory framework to regulate bitcoin and other cryptocurrencies in the nation.

Conversely, another neighboring country, Ukraine has been on the lookout for crypto assets.

Earlier this year, it was reported that Ukraine’s National Agency for Prevention of Corruption (NAPC) had defined clear rules for declaring cryptocurrencies as intangible assets.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin56,289 0.59 % 7.50 % 6.15 %
Ethereum2,226.2 1.14 % 6.90 % 3.89 %
Binance Coin476.25 0.38 % 8.87 % 0.94 %
Tether1.000 0.05 % 0.33 % 0.51 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.270 0.87 % 8.75 % 4.48 %
XRP1.360 1.99 % 14.83 % 0.89 %
Uniswap32.32 0.85 % 9.21 % 8.59 %
Litecoin273.85 0.26 % 12.63 % 8.41 %
Chainlink38.98 1.19 % 5.95 % 22.27 %