A growing number of human rights organizations from around the world are turning to crypto and blockchain technology as a remedy to challenges in underdeveloped or conflict-torn countries caused by a lack of financial infrastructure or insufficient identity verification.
Through a new blockchain-based humanitarian program, the Office of the UN High Commissioner for Refugees (UNHCR) will send cryptocurrency to Ukrainians displaced by Russia’s atrocities.
Stellar Development Foundation announced on December 15 that it has partnered with UNHCR to deliver USD Coin, a stablecoin pegged to the US dollar, to Vibrant digital wallets of eligible applicants.
The relief beneficiaries can then get the funds in dollars, euros, or their native currency, which they can exchange at MoneyGram outlets throughout the world. In Ukraine, there are 4,500 MoneyGram locations, according to a statement.
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