The Ukrainian B2B payment platform KUNA Pay is entering the EU market – Chobanian in an interview with Mind
The service will operate directly in the EU market and through an intermediary in Ukraine
The Ukrainian crypto exchange KUNA is launching its B2B crypto acquiring platform, KUNA Pay, into the EU market. The service is aimed at businesses wanting to accept payments in cryptocurrency, as well as the banking sector and financial companies.
This was disclosed by the founder of the crypto exchange, Mykhaylo Chobanian, in an interview with Mind.
According to him, the platform was founded based on requests the crypto exchange received from European banks.
"In Europe, we operate both directly and through banks. In Ukraine, we have a partner who will develop this solution, meaning we sell it to them and they will offer it as a service to Ukrainian companies. We will announce the name of this partner once all preparatory work is finished," Chobanian said.
He pointed out that the absence of a need for a central authority or intermediary for the platform did not create a risk of "the possibility of using the service to bypass sanctions."
"In order to pay for something, there must be a business providing certain services which the client pays for in cryptocurrency. We are currently integrating the service into the premium services segment: plane rentals, luxury cars, expensive hotels. All these services are provided offline, so the client has to be present, and then sanctions apply," explained the founder of the crypto exchange.
As for online, clients where this service is integrated, who are identified and verified, and if any sanction violation is detected, it will be "clearly understood when, who and how violated the sanctions," he added.
The founder of KUNA explained that due to existing regulatory conditions, the crypto exchange did not intend to return to the Ukrainian B2B market yet, as it is impossible under current conditions and the company does not wish to operate in violation of the law.
Background. Mind previously reported that the Ukrainian crypto exchange KUNA launched the B2B crypto acquiring platform KUNA Pay.
