quora UNICEF in Raising Cryptocurrency Fund

UNICEF in Raising Cryptocurrency Fund

UNICEF, the United Nations Children’s Fund, has started a cryptocurrency fund. And it aims to support open-source technology benefiting children and young people worldwide.

In the official announcement on October 8, UNICEF is the first U.N. organization to keep and create transactions in cryptocurrency – such as Bitcoin (BTC) and Ether (ETH).

Henrietta Fore, UNICEF executive director, stated, “If digital economies and currencies have the potential to shape the lives of coming generations.”

In addition to that, Fore believes that this is a new and exciting chance for UNICEF. She also indicated the Cryptocurrency Fund creation is an important and welcome step toward humanitarian and development work.

Aside from that, the Swiss non-profit organization Ethereum Foundation is the first contributor to the new cryptocurrency fund. The Foundation’s executive director Aya Miyaguchi explained that 100 Ethers, nearly $18,000, was given to UNICEF for the new partnership.

Eighth Phase of Binance

Meanwhile, Binance, a cryptocurrency exchange, revealed ita eighth phase of its lending product on October 7. And in this phase, Binance can begin offering 14-day fixed-term lending products. Also, they would accept subscribers on a first-come, first-served basis. The subscription period will start on October 10 and ends on November 10. Then, they must pay the interest immediately after the term matures.

In addition to that, the program’s digital assets include Binance Coin (BNB), Bitcoin, Binance USD (BUSD), Ethereum Classic (ETC), ETH, Chainlink (LINK), Tether (USDT), and XRP.

Furthermore, the annualized percentage yield on loans is initially at 3% for Bitcoin. And it hits 10% for BNB, USDT, and BUSD. CEO Changpeng Zhao praised the high yield of those loans via a tweet on October 7. He said, “How much interest is your $USD making for ya in the bank? Convert them to $BUSD and let them start to make 10% APY for you.”

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