UNICEF Will Not Convert Bitcoin and Ethereum Donations to Fiat

Share Article

Recently, UNICEF announced it is working on a prototype to allow it to accept Bitcoin (BTC) and Ethereum (ETH) donations. Notably, these donations will be kept as cryptocurrencies and not converted.

The UNICEF is rolling out a pilot program to accept cryptocurrency donations—and won’t be converting the raised funds to cash.

UNICEF Goes Long on Cryptocurrencies

Cryptocurrency adoption took a major step forward with news that UNICEF will soon be accepting Bitcoin (BTC) and Ethereum (ETH) donations. As previously reported by BeInCrypto, Christina Lomazzo and her blockchain team at the United Nations Children’s Fund (UNICEF) will be allowing individuals to donate cryptocurrencies.

bitcoin ethereum

The new pilot program is the first time the international agency will be accepting cryptocurrencies. The first donation made will reportedly come from the Ethereum Foundation which donated 1 BTC and 10,000 ETH to the cause. The pilot program will also be a collaboration with UNICEF USA, UNICEF Australia, UNICEF New Zealand, and UNICEF France.

What’s noteworthy, however, is that this initiative will keep donations as cryptocurrencies. Rather than automatically convert them to fiat currency, the international organization seems to be interested in HODLing and spending cryptocurrencies.

The idea behind the move is to better transparency and increase the number of donors. With every donation recorded on the blockchain, there is little room to ‘lose’ funds and everything is visible on the public ledger.

Bitcoin BTC Ethereum ETH

International Organizations Look to Blockchain Technology

The United Nations and its many branches have proven themselves open to cryptocurrencies. There is currently a ‘paradigm shift’ occurring at the highest levels of international power which may indicate that a wave of adoption is coming.

The pro-cryptocurrency position goes far beyond UNICEF. Last year, Antonio Guterres, the UN secretary-general, spoke on the possibility of using blockchain technology in solving world issues. The plan’s focus is to provide ultra-accessible financial services and digital networks by 2030.

UNICEF has taken the bold move of accepting cryptocurrencies and not converting them to liquid cash. Instead, they’re betting long-term on the idea. Let’s hope that other international organizations follow.

Do you think that other UN organizations have much to gain from adopting cryptocurrencies? Let us know your thoughts in the comments below. 

Images are courtesy of Shutterstock.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Related topics

Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.

Follow Author

Buy your first NFT on Bybit and earn up to 20,000 USDT.     

Start now

Unlock next-level trading on Bybit with your favorite metaverse      


Unlock Next-Level Trading Experience — Earn up to 8.88% APY