Children’s charity UNICEF is looking to expand its use of cryptocurrency
In Brief:
It will look at how cryptocurrency can help respond to the demands of donors and those fighting Covid-19.
It decided last month to invest “ether” in eight companies as part of its CryptoFund.
It is now looking at a similar fund using bitcoin.
What does this mean?
The charity uses cryptocurrency due to the demand of donors who often store wealth in this way – many affluent individuals want to be able to donate without having to convert their currency back into fiat. UNICEF will also look to build an “explorer” allowing the public to follow where the funds go.
