Ukrainian shipping company will be one of the first in the world to begin accepting payments in bitcoins

Odessa shipping company Varamar is negotiating the first Bitcoin payment with a client, says the founder of the company, Alexandra Varvarenko. Bitcoin will make it easier to work with clients in countries affected by sanctions and will reduce the bureaucracy associated with traditional bank payments, the entrepreneur explained.

“Transaction paperwork is a challenging issue when dealing with banks. Bitcoin payments will help solve this problem and speed up the process. It could also help solve payment problems in countries like Pakistan, Russia, Sudan, Yemen and Qatar, where honest companies operate that suffer from sanctions imposed on their governments,” says Varvarenko.

While the project of the Ukrainian enterprise is at an early stage, it is already showing interest in cryptocurrency in the shipping industry. Many companies in the industry are registered in offshore jurisdictions. Ship owners are often serviced by banks in the Baltic countries, where difficulties arise in receiving and sending payments in dollars. 

According to https://minfin.com.ua