Trustee Plus dispelled speculation around the company’s exit from Ukraine

In May 2025, cryptocurrency wallet Trustee Plus suspended the registration of new users from Ukraine. At the same time, the Weld Money service left the market. According to Forbes Ukraine, citing three sources, these decisions could be related to the interest of the National Bank of Ukraine in the use of cryptocurrencies, with the help of which it was allegedly possible to bypass currency control and restrictions on the circulation of cryptocurrencies through exchanges.

The magazine notes that the regulators paid special attention to the cards issued by Trustee Plus’ partner, Polish fintech Quicko. In spring, Quicko blocked more than 7,000 cards of Ukrainian users due to questionable matching of their addresses and behavior. It is also alleged that Trustee Plus promotional campaigns allowed wording suggesting circumvention of currency control.

Trustee Plus itself categorically denied these accusations. The company’s director-general, Vadym Hrusha, emphasized that the firm does not operate in Ukraine, does not employ people in Ukraine and acts exclusively in accordance with European legislation.

According to him, the Trustee Plus card is issued by a financial institution in the EU, all transactions are in euros and customers are subject to strict verification. He added that each payment made with the card represents an inflow of currency to the country where it was made. Thus, transactions via Trustee Plus support Ukraine’s currency stability rather than harm it.

Grusha said that the allegations against Trustee Plus stem from the lack of clear crypto regulation in the country. This, in his opinion, creates a ground for treating any activity as potentially violating the law, even if it fully complies with international standards. He called for transparent rules and an adequate regulatory framework that would allow market participants to operate within the legal framework without the risk of being misunderstood.

The Economic Security Bureau of Ukraine said that no criminal cases were opened against Trustee Plus and Weld Money. Neither the NBU nor the SBU conducted any inspections of the companies.