Polygon co-founder leads crypto relief for Nepal disaster

Polygon’s Sandeep Nailwal launched a stablecoin relief campaign for Nepal, raising over $168,000. Donations are converted to local currency and sent to the official fund, with support from major crypto organizations.

Polygon co-founder Sandeep Nailwal has launched a stablecoin donation campaign to support Nepal’s Prime Minister’s Disaster Relief Fund following a devastating glacier collapse on August 26, which resulted in over 1,250 fatalities. The campaign enables global donors to contribute any token from any blockchain. Donations are received on-chain, converted to USDC, and pooled in a public relief wallet on Ethereum or Polygon. The collected funds are exchanged into Nepalese rupees and transferred to the official government fund through established financial channels. Polygon’s Open Money Stack, Coinme, and Cross River Bank provide payment infrastructure, while Engage Nepal, a US-based nonprofit, oversees collection and accounting. Blockchain for Impact has pledged $100,000, and as of the latest update, the campaign had raised $168,176. Additional contributions include $300,000 from Ripple and $166,946 from the Solana Foundation. This initiative highlights the transparency and efficiency of blockchain and stablecoins in disaster relief efforts.