Market Data
Revolut Launches Full Services in Ukraine with Special Clear Sky Debit Card
British fintech company Revolut has officially launched its services in Ukraine, following a successful beta testing phase. To commemorate this launch, the company introduced a special Clear Sky debit card, designed in Ukraine’s national colors, blue and yellow. This move reflects Revolut’s commitment to supporting Ukraine amid the ongoing war with Russia. Ukrainian residents can now create a European Revolut account, gaining access to a range of financial services, including instant and free transfers between app users.
Revolut has been a steadfast supporter of Ukraine since Russia’s invasion in February 2022. The company has provided free access to its services for Ukrainian refugees, including money transfers and currency exchange, and temporarily waived the requirement for proof of European residency. This initiative has been particularly helpful for Ukrainians displaced by the war, allowing them to manage their finances securely and efficiently. Over 700,000 Ukrainians living in the U.K. and Europe are already using Revolut’s services, demonstrating the company’s growing popularity among the Ukrainian diaspora.
Revolut’s Impact: Facilitating Financial Support for Ukraine
Since 2022, Revolut has facilitated over 1 billion euros ($1.03 billion) in transactions sent to Ukraine, primarily from countries such as Germany, the U.K., Ireland, Poland, and the Netherlands. This highlights the critical role Revolut has played in helping Ukrainians receive financial support from abroad. The company’s co-founder and CTO, Vlad Yatsenko, expressed his pride in Revolut’s contributions to Ukraine, noting that a record number of Ukrainians have joined the waiting list to be among the first to access Revolut’s services. Yatsenko also hinted at the introduction of more Revolut products in Ukraine in the near future.
Ukrainian customers can now order virtual and physical debit cards, including the special Clear Sky VISA debit card, free of charge. For users in the U.K. and Europe, the Clear Sky card is available by making a minimum donation of five euros ($5.17) to unlock it. All proceeds from these donations will go directly to the UN Refugee Agency, which provides assistance to Ukrainian war refugees. Revolut has been actively involved in fundraising efforts, raising over 10 million pounds ($12.4 million) for the Red Cross Ukraine since the start of the invasion. This includes a 1.5 million pound ($1.9 million) donation from the company itself.
Revolut’s Ties to Ukraine and Russia
Revolut’s connection to Ukraine runs deep. The company was co-founded by Ukrainian national Vlad Yatsenko and Russian-born Nikolai Storonsky. However, Storonsky renounced his Russian citizenship in response to Russia’s full-scale invasion of Ukraine. This decision underscores the company’s stance against the aggression and its solidarity with Ukraine. Additionally, Revolut has suspended all operations in Russia and Belarus, further demonstrating its commitment to supporting Ukraine during this crisis.
The Need for Humanitarian Aid Reform in Ukraine
Since Russia’s invasion in February 2022, the international community has provided nearly $11 billion in humanitarian aid to Ukraine, with billions more contributed by individuals, charities, and Ukrainians themselves. The UN recently announced a new $3.3 billion appeal for 2025 to continue supporting Ukraine. However, despite this significant influx of aid, there are growing concerns about the effectiveness and distribution of these funds. With cuts to international aid looming, there is an urgent need to reform Ukraine’s humanitarian aid system to ensure that resources are being allocated efficiently and reaching those who need them most. This moment of crisis presents an opportunity to create a more transparent, resilient, and equitable aid framework that can sustain Ukraine through the challenges ahead.
Conclusion: Revolut’s Role in Supporting Ukraine’s Future
Revolut’s official launch in Ukraine and the introduction of the Clear Sky debit card represent more than just a business expansion—they symbolize hope and resilience for a nation under siege. By providing accessible financial services and supporting humanitarian efforts, Revolut is playing a vital role in helping Ukrainians rebuild their lives and secure their future. As the international community continues to rally around Ukraine, companies like Revolut are setting an example of how innovation and compassion can make a tangible difference in times of crisis.
