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13 December 2022

UACB is a crypto token backed by military bonds


ICU Group and EVOL.TECH announce the successful finalization of the first test issue of UACB cryptocurrency. The Ministry of Finance of Ukraine made timely and full payments on the issue of military bonds that served as collateral for the UACB token that was issued to benefit the armed forces and country of Ukraine. Accordingly, investors were able to redeem their investments in cryptocurrency.


UACB is a crypto token backed by military bonds. This is the first instrument in the Ukrainian financial market that combines the advantages of cryptocurrencies and government bonds guaranteed by the Ukrainian government.


UACB is a collaboration between the EVOL.TECH IT company and ICU financial group that provided a mechanism to use cryptocurrency to buy military bonds and, thus, support Ukraine. The issue debuted on June 16 this year. The partner of the project was the COINPAY cryptobank.


Previously, the only opportunity to support Ukraine's war effort with cryptocurrency was a donation, which meant no return. Now, with UACB, cryptocurrency can be used to support the state and receive a guaranteed return of the investment.


Among other advantages of UACB, investors has minimal exchange rate risk, because UACB payments were made in Tether (USDT), a cryptocurrency pegged to the dollar. After the government paid off the bonds, the UACBs were exchanged into USDT. In this example, if an investor wanted to transfer the crypto received back into hryvnia today, it would be 25% higher than at the beginning of the placement, due to the devaluation of the national currency during this period.


"We saw a lot of interest from the crypto community in UACB. Crypto owners liked that they could help Ukraine and get their money back. Also, the purchase process was very simple. It was possible to buy a token and then get your crypto back in a few clicks, without any bureaucracy," commented Valeriy Edeliev, CEO of EVOL.TECH.


"We have vast experience in trading government securities and many ideas on how to develop this market. ICU was the first in Ukraine to introduce online trading in government bonds. We were the first to offer individuals military bonds, which at the beginning of the war became the second source of financing for the state budget. Now, together with EVOL.TECH, we have implemented a tool to attract a new type of investor to the market. We have many more ideas and plan to continue to actively develop the government bond market with the active participation of the state," according to Yevheniia Gryshchenko, Deputy Director of ICU.


"We are pleased to participate in such an important project for Ukraine as the issue of a crypto token backed by Ukraine's military bonds. This is important not only from the point of view of helping the Ukrainian army, which defends the borders of our country, but also from the point of view of the development of the Ukrainian crypto market. Tokens backed by government bonds are the first such project in Ukraine and one of the first in the world," said Oleksiy Pavlov, founder of COINPAY, which provided processing for the UACB.


More information about UACB is available at


About ICU


ICU Group is an independent, multi-strategy asset management, private equity, and investment firm that specialises in the emerging and frontier markets worldwide. The Group also has a portfolio of venture capital and fintech investments through its venture capital arm, ICU Ventures.  ICU aims to provide its clients with superior risk-adjusted returns across a number of asset classes with investment decisions supported by robust macroeconomic and sectoral analyses from an in-house team of research economists. 


EVOL.TECH is a Ukrainian IT company specializing in the creation of Neobroker and RoboAdvisor projects to facilitate investments in foreign securities and crypto assets.


COINPAY is a Ukrainian crypto bank which provides UACB crypto processing, as well as exchanges and circulates crypto bonds. The company provides a full cycle of B2B and B2C services in the cryptocurrency market. COINPAY was founded by Ukrainian Oleksiy Pavlov.