Oct 9, 2019
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United Nations Agency Unicef Launches Cryptocurrency Fund

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United Nations Agency Unicef Launches Cryptocurrency Fund

Unicef announced Wednesday that it has launched a cryptocurrency fund and become the first United Nations organization to hold onto its crypto donations. Without converting them into fiat, the fund will hold two cryptocurrencies and disburse them to support projects benefiting children worldwide.

Also read: RBI Ban Stops Indian Police From Cashing Out Seized Crypto

A First for UN Organizations

United Nations children’s agency Unicef announced the launch of its cryptocurrency fund Wednesday. The organization explained that “Unicef will now be able to receive, hold and disburse donations of cryptocurrencies ether and bitcoin, through its newly-established Unicef Cryptocurrency Fund,” adding:

In a first for United Nations organizations, Unicef will use cryptocurrencies to fund open source technology benefiting children and young people around the world.

United Nations Agency Unicef Launches Cryptocurrency Fund

The agency noted that its national committees for the U.S., France, Australia, and New Zealand currently accept crypto donations. In April last year, Unicef also launched The Hopepage, a website that mines cryptocurrency with visitors’ computer processing power. At press time, over 30,800 people are actively donating their computing power to it, according to the website.

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