UNICEF France Now Accepts Donations in Bitcoin (BTC) and Other Major Cryptos

  • UNICEF France is now accepting donations in nine major cryptocurrencies.
  • Mosques and various other charitable organizations have started accepting crypto donations.

The United Nations Children’s Fund (UNICEF) has reportedly starting accepting donations in nine major digital currencies including Bitcoin (BTC) and Bitcoin Cash (BCH). At present, only UNICEF’s office in France is accepting crypto donations.

Nine Major Cryptocurrencies Accepted

In addition to BTC and BCH, UNICEF’s French office is accepting Ethereum (ETH), Ripple (XRP), Stellar (XLM), Monero (XMR), Litecoin (LTC), Dash, and EOS. People who want to donate cryptocurrency to UNICEF France can do so by visiting their website.

Sébastien Lyon, the executive director at UNICEF France, commented on the organization’s announcement by noting:

Cryptocurrency and blockchain technology used for charitable purposes offer a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention.

Sébastien Lyon

Lyon also mentioned that cryptocurrencies and their underlying technology offer an innovative way to raise funds for various social causes, however, there are currently not many organizations that are harnessing their benefits.

The French UNICEF head acknowledged that there are a few communities which have started the positive trend of accepting charitable donations in cryptocurrencies. In May, the Shacklewell Lane mosque in East London announced it would accept charity in cryptocurrency.

Notably, this is not the first time that UNICEF has introduced a crypto-related initiative. In February, the New York-based humanitarian organization started a fundraising effort to help children in Syria, which has been embroiled in a violent civil war since 2011.

"Game Chaingers", "The HopePage"

UNICEF’s fundraising campaign was called “Game Chaingers” and aimed to get online video game players involved in an effort to help children suffering in Syria. In order to participate in the charitable initiative, users had to download a crypto mining app from UNICEF’s official website.

After installing the app, the users’ computing resources were used to mine Ethereum’s native token, Ether (ETH) - which went towards offering developmental assistance to children in Syria. The Game Chaingers program managed to raise 85 ETH, an amount valued at nearly $21,000 according to CryptoCompare data.

In May, UNICEF’s office in Australia began its own crypto fundraising effort by launching a website called “The HopePage.” People who visit the website can donate their computing resources in order to mine cryptocurrencies. The digital currency generated from mining is then used to help the citizens of underdeveloped countries.

DeFi Lending Protocol Compound to Start Distributing Its COMP Governance Tokens

Francisco Memoria

Decentralized Finance (DeFi) lending protocol Compound is set to start distributing its COMP governance tokens later today, according to an announcement the firm published.

Compound detailed that it completed a testnet trial for the distribution of its COMP tokens, which allowed its community to approve the proposal on June 14. The lending platform will, as a result, distribute a total of 1,116,310.81 COMP tokens to users across several markets, with half of the tokens being supplied to each market going to the borrowers, and half to the suppliers.

The announcement reads:

Every Ethereum block, 0.50 COMP will be distributed across ETH, DAI, USDC, USDT, BAT, REP, WBTC and ZRX markets, proportional to the interest being accrued in the market; as conditions evolve, the allocation between markets is updated by invoking the refreshCompSpeeds function. Within each market, half of the COMP is allocated to suppliers, and the other half to borrowers.

It adds that whenever an address interacts with a market on Compound, it will receive “all COMP earned in that market, should it exceed a 0.001 COMP threshold.” The tokens are set to start being distributed today, June 15.

The approval of the governance token’s distribution comes as the total number of decentralized finance users keeps on growing, and is expected to soon reach 600,000. Compound is a major decentralized finance protocol, and is already integrated on several wallets and platforms.

San Francisco-based cryptocurrency exchange Coinbase has recently announced it’s exploring the addition of 18 new digital assets to its platforms, one of which is Compound’s COMP token.

Featured image via Unsplash.