Crypto exchange Currency.com has announced that it is halting operations for residents of the Russian Federation (Russia). Earlier, Currency.com stopped opening new accounts for clients from the Russian Federation.

Vitaly Kedyk, CEO Currency.com Ukraine said:

“The Russian invasion of Ukraine brought violence and disorder to the people of Ukraine. We condemn the Russian aggression in the strongest possible terms. We stand with Ukraine and everyone who denounces this terrible war. In these circumstances we can no longer continue to serve our clients from Russia.”

Clients from other countries and regions will not be impacted by this decision. Currency.com will continue to serve its global client base through its international network comprising offices in London, Gibraltar and Vilnius.

Since the war started, Currency.com said it has donated over $1 million to support the humanitarian crisis in Ukraine. Currency.com donated $500,000 to support the joint emergency relief efforts of the Ministry of Health in Ukraine and the Red Cross Society of Ukraine. The funds will be used to provide medical aid and basic amenities to displaced Ukrainians. A further $200,000 was donated to ASAP Rescue, a Ukrainian volunteer organisation that helps evacuate citizens during times of natural disaster and social turmoil, and $300,000 to The Ministry of Social Policy and Global Giving to help Ukrainians access food, shelter and medical care.

Currency.com is controlled by serial technology entrepreneur Viktor Prokopenya, via his London-based investment firm VP Capital. VP Capital’s portfolio includes Currency.com, Capital.com, Banuba and Facemetrics, focusing on areas from fintech and blockchain to artificial intelligence and machine learning.