Cryptocurrency exchange Currency.com announced it is donating a total of $1million to support the humanitarian crisis in Ukraine.

According to the press service of the exchange on Friday, the funds will be distributed to four charities - The Red Cross Society of Ukraine, The Humanitarian Relief Fund under the Ministry of Social Policy for Ukraine, ASAP Rescue and Global Giving.

"Our hearts go out to the citizens of Ukraine who are engulfed by this war. Many have had to flee their homes amid freezing temperatures, power cuts and food shortages. Every day is a struggle to survive. We want to help where we can," US Chief Executive Officer Steve Gregory said.

Currency.com is contributing $500,000 to support the joint emergency relief efforts of the Ministry of Health in Ukraine and the Red Cross Society of Ukraine. The funds will be used to provide medical aid and basic amenities to displaced Ukrainians.

In addition, it is providing a further $200,000 to ASAP Rescue, a Ukrainian volunteer organisation that helps evacuate citizens during times of natural disaster and social turmoil, as well as donating $300,000 to The Ministry of Social Policy and Global Giving to help Ukrainians access food, shelter and medical care.

Each of them will receive $150,000 to support the people of Ukraine, including children, in obtaining shelter, food and permanent medical care.

"Like everyone in the world, we are extremely concerned about the shocking events taking place in Ukraine. As a global company with an international team, we feel it is our duty to help those impacted by this war. We will continue to monitor events closely and stand ready to provide additional support to the people of Ukraine," Gregory said.

Currency.com has offices in Cyprus, the United States, the UK, Gibraltar and Ukraine.