One of the biggest, and certainly one of the most known, charity organisations in the world, United Nations Children's Fund - UNICEF, has launched a cryptocurrency fund and will start accepting donations in crypto, Cointelegraph reports on October 9th.
The executive director of UNICEF, Henrietta Fore, commented “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." UNICEF has thus become the first U.N. organisation to hold and transact cryptocurrencies.
The new fund was already supported by the Swiss non-profit Ethereum Foundation, donating 100ETH, worth more than USD18000 at the time of writing to the newly founded fund.
Several charitable organisations have already recognized the use of cryptocurrencies in charitable and humanitarian efforts, most notably Oxfam and various crypto charity funds, such as Binance Charity. The key takeaway should be that the UNICEF became the first, but is likely not to be the last, U.N. organisation to hold and transact cryptocurrencies. With its undeniable mainstream presence and a goal people are particularly attracted to, their adoption of cryptocurrencies speaks volume on how much progress crypto has made into everyday lives. We can expect to see more prominent cryptocurrency proponents looking up to the Ethereum Foundation and placing their donations to the newly founded fund as well.