Circle Foundation funds UN stablecoin trials for aid
6.6 Stablecoins Circle Foundation is funding UNDP and WFP to trial regulated stablecoins for aid, aiming to speed up payments, cut costs, and improve transparency in humanitarian projects.
Circle Foundation has announced grants to the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to explore the use of regulated stablecoins for humanitarian and development aid. This initiative seeks to determine if digital payments can deliver funds to beneficiaries faster, more transparently, and at lower cost compared to traditional banking systems. UNDP will use its grant to establish a Digital Asset Innovation Pool, expanding digital payment pilots previously conducted in countries such as Syria, Haiti, Guatemala, and The Gambia. The grant will also provide regulatory and operational support for these efforts. WFP will use its grant to develop governance, risk management, and compliance tools for stablecoin payments. Over the next three years, WFP will test two to three payment corridors to evaluate efficiency and cost-effectiveness. Early pilots have shown significant reductions in distribution costs, with the aim of scaling these benefits across more regions. The funding is managed by Fidelity Charitable and sourced from Circle Internet Group.
