Distributed Lab to Launch New Bitcoin Wallet for Ukrainian Users

Ukrainian digital currency laboratory Distributed Lab recently announced that it will launch a Bitcoin wallet in Ukraine. Distributed Lab’s CEO  弗拉迪米尔•杜比宁spoke exclusively to Cointelegraph about their upcoming wallet.

The new wallet supports instant trading of Bitcoin for the Ukrainian hryvnia currency, and users can buy Bitcoin with Visa and MasterCard debit cards. Vladimir Dubinin said:

“A single bank in Ukraine operates 50% of the country’s debit cards, and we are developing a mobile wallet with instant transactions that quickly converts bitcoin to local currency. A local exchange operator will handle all transactions. Users will also be able to buy bitcoin with their debit cards for low fees.”

According to Vladimir Dubinin, transaction fees are about 2%-3% of the transaction amount. Their short-term goal is to get 2,000 active users within the first two months of the wallet's launch, after which they hope to expand the wallet to other CIS member states.

So who is the target user of Distributed Lab’s wallet? Dubinin said:

"Now, many people in Ukraine have the need to remit money overseas. They can use this wallet to convert fiat currency into Bitcoin and send it to family or friends overseas. The recipient can then convert the received Bitcoin into local currency. We want to combine traditional financial tools such as bank debit cards that Ukrainians are familiar with with a brand new world of Internet finance. People may have heard of this new technology but are afraid to try it. We can provide them with such an opportunity to experience it. Of course, there are also many people in Ukraine who understand Bitcoin and have used or received Bitcoin. They are also our main users."

Original article: http://cointelegraph.com/news/115613/distributed-lab-to-launch-a-bitcoin-wallet-in-ukraine
By Nina Lyon
Translator: printemps
Editor: printemps
Source (translation): Babbitt Information