ASB Belarusbank Just Launched A Crypto Exchange Service

The biggest bank in Belarus, the ASB Belarusbank, has just launched a cryptocurrency exchange service during the political turmoil and protests in the country. Let’s find out more in today’s crypto news.

The biggest bank, the ASB Belarusbank, launched a legal service enabling customers from the country and Russia to purchase crypto assets. The users will not be able to exchange digital assets for Belarusian and Russian rubles, euros and US dollars as well as with Visa payment cards. According to the Prime Press news outlet reports, the biggest bank in the country by volume of assets, loans, equity, and deposits has just made a partnership with a crypto exchange named White Bird to launch the new service. Initially, only the citizens of Belarus and the Russian Federation will be able to interact with crypto assets through the bank. However, the bank has plans to expand the list of nations soon. The bank started a program for digital transformation a few years ago and the release of this crypto service is the first major step ahead.

It’s worth noting that the report didn’t disclose which crypto assets will be available for purchase through the bank but White Bird promised that the list will be “extensive” and the operator plans to include more features to be combined with the traditional financial sector. The launch of this service came during times of uncertainty and political protests in the country as the Belarusian population was on the streets for weeks, protesting. The first minor demonstrations started during the presidential elections but they intensified once it was announced that President Alexander Lukashenko won for the sixth time. He has been in office since 1994.

Lukashenko’s main opponent in the recent elections- Sviatlana Tsikhanouskaya rejected the legitimacy of the outcome and the European Union followed suit and even urged for new elections, condemning the regime and violence against the protesters. The EU introduced sanctions against 40 Belarusian officials accused of political repression and vote-rigging but Lukashenko was not a part of the list. The government imposed sanctions against the undisclosed number of EU officials in response.

What’s more, Lukashenko blamed the Union for trying to “harm Belarus” by destabilizing the regime while supporting the opposition. So far, he remained in power while the protests still continue. The authorities were violent against the demonstrators with many cases of missing, dead, and injured.