The United Nations Children’s Fund Creates a Cryptocurrency Fund
NEWS
October 09  |  2 min read

UNICEF Launches a Cryptocurrency Fund

The COIN360 Editorial Team

The United Nations Children’s Fund (UNICEF) has created a cryptocurrency fund to support “open source technology benefiting children and young people around the world”. With this, UNICEF has become the first UN Organization to hold and make cryptocurrency transactions, in particular, BTC and ETH, reads the company blog post.

UNICEF launches a cryptocurrency fund

UNICEF Executive Director, Henrietta Fore, shared that the creation of the fund is a “significant and welcome step forward in humanitarian and development work”.

“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”, said Fore.

According to the blog post, the first contributions in ETH, worth around $18,000, were already received from the Ethereum Foundation and will go towards three grantees of the UNICEF Innovation Fund and a project coordinated by GIGA initiatives that provides internet to schools all over the world. The Executive Director of the Ethereum Foundation, Aya Miyaguchi, further commented on the participation:

“The Ethereum Foundation is excited to demonstrate the power of what Ethereum and blockchain technology can do for communities around the world. Together with UNICEF, we're taking action with the Cryptofund to improve access to basic needs, rights, and resources.”