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Finland Selects Coinmotion, Tesseract as Brokers for Ukraine Bitcoin Donations

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

By Jamie Crawley
AccessTimeIconApr 28, 2022 at 10:12 a.m. UTC
Updated May 11, 2023 at 5:35 p.m. UTC
The Presidential Palace in Helsinki (Shutterstock)
The Presidential Palace in Helsinki (Shutterstock)
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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.
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    • Read more: Ukraine Has Received Close to $100M in Crypto Donations

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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