Altcoin News: Ethereum Foundation Supports New UNICEF Crypto Fund

October 9, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The United Nations Children’s Fund (UNICEF) has opened its own crypto fund, which will allow it to receive, store and distribute donations in Bitcoin and Ethereum.

According to UNICEF this Wednesday, it became the first UN agency to open a fund that can equally receive and transfer donations using cryptocurrencies.

The organization has already received its first transactions — they were sent by the Ethereum Foundation and will be transferred in favor of three recipients under the UNICEF innovation fund program. Prescrypto, Atix Labs and Utopixar projects will receive grants to continue the development of solutions in the areas of “prescription tracking, matching investors and those needing funding, and community tokens and engagement.”.

“This is a new and exciting venture for UNICEF,” said Henrietta Fore, UNICEF Executive Director. “If digital economies and currencies have the potential to shape the lives of coming generations, it is important that we explore the opportunities they offer. That’s why the creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”

Ethereum Foundation Executive Director Aya Miyaguchi, speaking at DevCon, said that 100 ETH worth about $18,000 were transferred to UNICEF as part of a new collaboration.

Last September, it became known that the French branch of UNICEF began accepting donations in nine cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, XRP, EOS, Monero, Dash and Stellar.

Author: Marko Vidrih