December 5, 2022

The two brokers will sell the bitcoin with the proceeds donated to Ukraine.

Source: Coindesk.com
Source: Coindesk.com

Finland’s government has selected two local digital asset service providers to act as brokers for its planned donation to Ukraine.

The two firms selected are Jyväskylä-based trading and custody provider Coinmotion and Helsinki-based digital asset lender Tesseract, Finland’s customs agency announced Thursday.

The plan is to give Coinmotion and Tesseract around 1,890 BTC ($75 million) by early summer for them to sell.

It was reported on Wednesday that Finland was planning to donate bitcoin seized from various criminal investigations to Ukraine worth as much as 73 million euros ($77 million).

Finnish Minister of Finance and Deputy Prime Minister Annika Saariko confirmed the reports via her Facebook account, with the caveat that the bitcoin would be sold and the proceeds donated in euros.