The Ukrainian cryptocurrency exchange Kuna is exploring the option of selling its local business and has already held initial talks with potential investors. The exchange’s founder, Mykhailo Chobanian, revealed this in an interview with Mind.ua.
According to Chobanian, the decision stems from the high risks present in the local market. Ukraine lacks effective cryptocurrency regulations, and due to restrictions from the National Bank of Ukraine (NBU), specialized companies have lost the ability to legally work with hryvnia bank cards.
The company is currently considering four options for its future: a complete exit from the Ukrainian market, selling its subsidiary, a hybrid partnership, or integration with a local bank. Negotiations are ongoing for individual proposals that have been received, although there have been no significant results so far.
Kuna plans to focus on the European Union market while continuing to serve a large number of Ukrainian clients.
It is worth noting that in April 2023, Kuna announced a shift in focus to working with businesses and financial institutions. At that time, Chobanian suggested that the exchange might leave the Ukrainian hryvnia market.
In my opinion, it’s not a big deal if they leave. Let’s not forget that the main leader in Ukraine is WhiteBIT, which is currently topping all the charts.
Everyone, enjoy your crypto!
Top comments (0)