The United Nations Children's Fund (UNICEF) has established a cryptocurrency fund to accept donations in bitcoins and Ethereum.
Digital assets will finance open source technologies for children and youth around the world.
UNICEF became the first organization in the UN that transacts in cryptocurrency, the fund said in a press release.
This is a new and exciting venture for UNICEF. 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.
Executive Director, UNICEF
The first contributions to the UNICEF Cryptocurrency Fund will come from the Ethereum Foundation through the French branch of the children's fund, which previously began to accept donations in nine cryptocurrencies.
Digital assets will be directed to finance three grantees of the UNICEF Innovation Fund. These are startups Prescrypto, Atix Labs and Utopixar, working in the areas of “tracking recipes, selecting investors and those who need financing, as well as public tokens and business relations”. GIGA will also receive funds from the cryptocurrency fund for connecting schools around the world to the Internet.