Save the Children has enhanced its cryptocurrency donation options by launching its Bitcoin Fund.
Created in collaboration with digital asset firm Fortris, this initiative enables the organization to hold bitcoin donations for a maximum of four years, which grants donors greater control over when to convert and utilize their contributions, the charity announced on Thursday.
While various nonprofits accept crypto donations, most promptly convert these assets to fiat currency. Save the Children’s Bitcoin Fund distinguishes itself by retaining donations for the long term and testing blockchain-based delivery mechanisms, indicating a significant shift in how NGOs might manage digital assets to enhance effectiveness and responsiveness during emergencies.
This bitcoin-driven fund aims to address the delays often associated with conventional foreign aid systems. By retaining crypto assets, Save the Children can provide resources more quickly during crises and experiment with new methods of direct assistance, including stablecoin transfers and digital wallet vouchers.
“This innovation merges the speed, cost-effectiveness, and financial inclusivity of blockchain tools to bolster Save the Children’s emergency response and long-term development initiatives,” commented Janti Soeripto, president and CEO of Save the Children in the U.S.
The fund’s design mirrors a growing interest in decentralized finance as a means to reduce expenses and enhance transparency in humanitarian aid. “Our bitcoin donors have expressed a desire for the flexibility to decide when to convert their contributions to maximize their impact, and this fund fulfills that requirement,” added Antonia Roupell, Save the Children’s head of innovation and partnerships.
Save the Children has been accepting bitcoin donations since 2013 and has generated millions in digital assets via its Hodl Hope campaign.
