Ukrainian company Evoltech and broker ICU announced the launch of the ‘first crypto-bond’ UA Crypto Bond (UACB), which will allow investors to invest in Ukrainian government bonds.
UACB is secured by military bonds with a government-backed guarantee of repayment. The expected maturity date is November 2022.
Tokens can be purchased, and after government payments on the bonds, funds can be withdrawn using stablecoins USDT (on BEP-20 or TRC-20). The initiative’s authors say that payouts in USDT will protect investors from hryvnia fluctuations.
The initial price per UACB unit is set at 34.18 USDT, according to the placement terms.
To purchase, you need to create a wallet on the site; during registration you only need to provide an email address. The minimum investment amount is 3 USDT.
All funds raised will be directed to support Ukraine in the war.
The initial launch of war-bond-backed tokens is a pilot.
“This is a test of interest and appetite from a new category of investors in sovereign debt and the unlocking of the potential of the Virtual Assets Law,” — they said in ICU.
ICU believes the project could scale after changes to the Tax Code are adopted. The law “On Virtual Assets” will come into force only after provisions relating to crypto-market taxation are approved.
Before the launch, the initiative was discussed with Ukraine’s crypto-industry regulator—the National Securities and Stock Market Commission.
Since the early days of the war, the cryptocurrency community has donated millions of dollars and launched various initiatives to aid Ukrainians. Read more about how crypto assets are helping residents of Ukraine in our exclusive feature.
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