After the start of the full-scale war, Ukrainians’ need to support their relatives abroad has increased to an unprecedented level. Millions of our citizens are now living in EU countries, North America, and Asia — working and studying there. Many Ukrainians are also doing business with international partners while remaining in their home country. What unites all of them is one practical need: to send money abroad quickly and conveniently.
However, almost four years into the large-scale war, the banking systеm remains restricted by regulations of the National Bank of Ukraine. Traditional international transfers via SWIFT often turn out to be either unavailable or too slow. Against this background, cryptocurrencies — primarily stablecoins — are becoming a convenient alternative.
How does the transfer scheme via USDT work, and how can the 1654.exchange service be useful here?
Why traditional channels no longer work the way they used to
Before 2022, international transfers were a normal part of Ukrainians’ financial lives: some people sent money to family members in Europe via bank SWIFT transfers, others paid contractors through Wise or PayPal. After the introduction of currency controls, the rules changed. The National Bank of Ukraine allows foreign currency transfers abroad only for clearly defined purposes: education, medical treatment, import payments, or fulfillment of contractual obligations. There is no separate option to transfer funds to a private individual “for living expenses.” This means that supporting a spouse in Germany, helping parents in Poland, or paying a freelancer in the Czech Republic through a bank has become virtually impossible.
These restrictions have been in place since the first months of the war and have significantly limited citizens’ ability to use SWIFT as a personal tool — while the need for cross-border transfers has only increased.
According to official NBU statistics, private money transfers to Ukraine amounted to about $11.6 billion in 2023 (including transfers through official and unofficial channels), and $9.6 billion in 2024. There is no public NBU data on transfers from Ukraine abroad, but the actual volume of such transactions is also measured in billions of dollars.
As a result, real demand for private cross-border transfers has been partly “pushed” into alternative channels, among which crypto has become the most flexible and fastest solution.
Stablecoins as a “digital SWIFT”
Most often, these transfers use stablecoins — cryptocurrencies pegged to the value of the US dollar. The most popular among them is USDT, which works as a digital equivalent of a regular dollar. The main advantage of USDT is that it is not subject to volatility, and transfers on networks like TRC20 or TON cost less than one dollar and are completed in just a few minutes.
How the UAH → USDT → Recipient transfer works
The concept of a crypto transfer is simple: first, the sender buys USDT with hryvnia, then sends the coins to the recipient’s wallet, after which the recipient sells them in their country for local currency.
It all starts with choosing a reliable service that allows quick conversion of hryvnia to stablecoins. One such service is 1654.exchange. The process is straightforward: the sender selects the UAH → USDT direction, pays for the transaction using a personal bank card or transfers from a business account (FOP) or company account (LLC), and then receives the required amount in their wallet or directly specifies the relative’s wallet address. Within a few minutes, the USDT reaches the recipient.
The second step is transferring the funds. USDT can be received in any wallet: Trust Wallet, Metamask, Binance, or even hardware wallets. Transfers on the TRC20 network are usually instant and cost just a few cents, compared to SWIFT, which takes 1–3 days and involves significant fees.
The final step is converting the stablecoin back into local currency. This can also be done through 1654.exchange, with fiat funds credited to a local bank account or received as cash in over 40 countries worldwide. Alternatively, local exchanges, crypto exchangers, or P2P platforms can be used. In this way, USDT has effectively become a universal global method for private-sector money transfers.
Why Ukrainians choose the 1654.exchange service
A key part of this model is a service that quickly converts hryvnia to USDT. 1654.exchange has been operating in this market for over six years and offers a simple procedure that is easy to understand even for those encountering crypto for the first time. Requests are usually processed within 15–30 minutes, and users can get support from operators in case of any difficulties. Another advantage is the ability to immediately specify the recipient’s address in another country — which is convenient when you need to quickly transfer funds to family or pay a foreign contractor.
Due to currency restrictions and the limited availability of traditional bank transfers, the Ukrainian UAH → USDT market has grown significantly, with many exchange services reporting a substantial increase in requests between 2023 and 2025. The reason is simple: crypto has become the only truly accessible way to make private cross-border transfers without complicated bureaucracy.
Who this scheme is suitable for
Primarily, this scheme is suitable for Ukrainians supporting relatives abroad. Scenarios such as sending money to a sister, a student, a grandmother, or friends have become completely atypical for banks, but are perfectly normal in the crypto model.
The second major group is entrepreneurs and freelancers. Due to currency restrictions, banks often cannot process payments for invoices, even for small amounts. Crypto allows them to pay contractors or suppliers anywhere in the world within minutes, with minimal fees and no risk of delays.
The third category is volunteers. In many volunteer procurement activities, cryptocurrency has become a tool for efficiency: paying for goods in Poland, the Czech Republic, or the USA, sending money to suppliers, or receiving contributions from donors in crypto is now much easier than going through multi-step bank approvals.
What to know before your first transfer
