The United Nations receives funding from Circle to promote the digital upgrade of cross-border refugee assistance

The stablecoin issuer Circle announced funding to the United Nations to support its deployment of digital financial infrastructure globally, aimed at enhancing the efficiency of humanitarian aid fund distribution. This news was announced during the World Economic Forum in Davos, Switzerland.

The Circle Foundation stated that this is its first international funding, which will be used to support the United Nations Digital Solutions Center for Finance (DHoTS) in advancing related work to streamline cross-border fund transfer processes within the UN system. This funding project continues the collaboration between Circle and the United Nations High Commissioner for Refugees (UNHCR) and DHoTS in 2022, when both parties provided aid to displaced persons in Ukraine through the USDC stablecoin.

United Nations Development Programme Administrator Alexander De Croo stated that in the context of tight budgets, stablecoin payments help "make every dollar go further." Circle pointed out that approximately $38 billion in humanitarian funding still relies on traditional financial systems each year, and digital financial infrastructure is expected to significantly enhance the efficiency of fund utilization.

United Nations High Commissioner for Refugees High Commissioner Barham Salih also stated that the project aims to enhance the dignity and choice of forcibly displaced populations through technological means while maximizing the actual impact of donated funds.