Ukraine’s KUNA Bitcoin Exchange Crowdsale Begins

The largest Ukrainian Bitcoin agency KUNA announces the launch of a crowdsale campaign for its cryptocurrency exchange. KUNA’s Bitcoin exchange was launched in March 2014 to allow customers easily and safely convert digital currency in local (UAH). The founder of KUNA agency Michael Chobanian announced the preparation of required financial documents for the crowdfunding on the December 2.

However, considering the centralized control over cryptocurrency exchange services in Ukraine, KUNA exchange found it difficult to continue its work without major innovations. Secondly, there is no legal model for the cryptocurrency exchange that would not require strict limitation of turnover. Thus, Bitcoin exchange market in Ukraine is one of the most expensive in the world – fees for exchange are 3-5%.

KUNA have found a legal solution that allows to create Ukrainian Bitcoin exchanges that has need to use centralized bank accounts and restrictions on turnover. This will lower the overall fees to 1% for exchanges between BTC\UAH. Moreover, exchange will create a center of liquidity and will become Ukraine’s basic infrastructure for FinTech projects development (like BTMs, remittance services, payment providers, banking etc) for local and foreign markets.

The crowdsale begins on December 13, 2015 and will last till December 24, 2015. During the investments seed round KUNA will offer 10% shares of the future Bitcoin exchange. The minimum required amount for this round is 100 BTC.