Distributed Labs Launches Bitcoin Wallet in Ukraine

     In an exclusive interview with Cointelegraph, Vladimir Dubinin, CEO of Distributed Labs, a research lab that develops different kinds of cryptocurrency projects and a “specialized department for the most daring ideas through design and implementation,” announced that a new BitcoinCT r:3 wallet will be launched in Ukraine.

     The new wallet will support BTC/UAH instant swap options using Visa and MasterCard debit cards. Vladimir Dubinin commented:

     “One bank in Ukraine operates 50% of the country’s debit cards. We are developing a mobile wallet that will instantly convert Bitcoin to local currency. This will offer a very good price rate, as local exchange operators will handle all transactions. Users will also be able to buy Bitcoin at a low cost using their debit cards.”

     According to Vladimir Dubinin, the exchange’s fees are about 2%-3%. The project aims to acquire 2,000 active users in the first two months of withdrawal. The developers also hope to effectively utilize the wallet in other countries of the Commonwealth of Independent States in the future. When asked about the target audience, Dubinin explained:

     “In Ukraine, people are looking for ways to transfer money to friends and relatives abroad, for example in the United States. Using our wallet, Bitcoins can be purchased with fiat currencies, sent to recipients who will convert them into local currency. This project seeks to combine the financial instruments familiar to Ukrainians, such as bank debit cards, with a whole new fintech sector that people have never heard of or are afraid to try. Of course, another major part of our supporters are Bitcoin users in Ukraine, freelancers who already know and use Bitcoin to receive payment for their services.”