Save the Children Introduces Bitcoin Fund to Streamline Crisis Response

AI Summary4 min read

TL;DR

Save the Children launched a Bitcoin Fund allowing donors to hold cryptocurrency donations for up to four years before conversion, aiming to speed up crisis response through blockchain technology and pilot new direct aid methods like stablecoin transfers.

Key Takeaways

  • Save the Children's Bitcoin Fund holds crypto donations for up to four years, giving donors control over conversion timing unlike most nonprofits that convert immediately.
  • The fund uses blockchain technology to enhance aid delivery speed and efficiency, piloting tools like stablecoin transfers and digital wallet vouchers.
  • This initiative reflects growing NGO interest in decentralized finance to reduce costs and increase transparency in humanitarian operations.
  • Save the Children has accepted bitcoin since 2013 and developed the fund with digital asset firm Fortris to maximize donor impact during crises.
Save the Children
Save the Children has expanded its offering for accepting cryptocurrency donations with the introduction of its Bitcoin Fund. (dipakpatel_in/Pixabay)

What to know:

  • Save the Children has launched a Bitcoin Fund to hold cryptocurrency donations for up to four years, allowing donors more control over conversion timing.
  • The fund aims to enhance the speed and efficiency of aid delivery by utilizing blockchain technology and piloting new forms of direct assistance.
  • This initiative reflects a growing interest in decentralized finance to reduce costs and increase transparency in humanitarian aid.
  • Save the Children has launched a Bitcoin Fund to hold cryptocurrency donations for up to four years, allowing donors more control over conversion timing.
  • The fund aims to enhance the speed and efficiency of aid delivery by utilizing blockchain technology and piloting new forms of direct assistance.
  • This initiative reflects a growing interest in decentralized finance to reduce costs and increase transparency in humanitarian aid.

Save the Children has expanded its offering for accepting cryptocurrency donations with the introduction of its Bitcoin Fund.

Developed with digital asset firm Fortris, the initiative allows the organization to hold bitcoin BTC$92,413.87 donations for up to four years, giving donors more control over when contributions are converted and used, the charity said on Thursday

While many nonprofits accept crypto donations, most immediately convert the assets to fiat. Save the Children’s Bitcoin Fund stands apart by holding donations long-term and piloting blockchain-based delivery tools, signaling a shift in how NGOs could manage digital assets to maximize impact and speed during crises.

The bitcoin-powered fund aims to overcome delays common in traditional foreign aid systems. By holding crypto assets, Save the Children can unlock resources faster during crises and pilot new forms of direct assistance, including stablecoin transfers and digital wallet-based vouchers.

“This innovation integrates the speed, cost-efficiency and financial inclusion of blockchain-based tools to strengthen Save the Children’s emergency response and long-term development programs,” said Janti Soeripto, president and CEO of Save the Children in the U.S.

The fund’s design reflects growing interest in decentralized finance as a way to cut costs and increase transparency in humanitarian aid. “Our bitcoin donors asked for the flexibility to choose when to convert to maximize the impact of their generosity, and this fund delivers exactly that,” Antonia Roupell, Save the Children's head of innovation and partnerships, said.

Save the Children accepts bitcoin donations since 2013 and has raised millions in digital assets through its Hodl Hope campaign.

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