quora UNICEF Supported by Ethereum Foundation on Latest Project
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UNICEF Supported by Ethereum Foundation on Latest Project

UNICEF has revealed its cryptocurrency fund supporting open source technology. And this would benefit children and young people around the world.

On October 8’s official announcement, UNICEF became the first-ever U.N. organization to hold and make transactions in cryptocurrency. And this includes Bitcoin (BTC) and Ether (ETH).

Moreover, UNICEF executive director Henrietta Fore sees this as a new and exciting venture for UNICEF. And she believes that this will be a move for humanitarian and development work.

In addition to the announcement, the Ethereum Foundation backed the latest cryptocurrency fund. And it became its first contributor. According to Aya Miyaguchi, executive director of the Foundation, UNICEF received 100 Ether, or $18,000, for the new partnership.

In addition to that, the funds would likely benefit three grantees of the UNICEF Innovation Fund. Also, a project led by the GIGA initiative to connect schools across the world to the internet will benefit.

Miyaguchi stated, “We aim to support the research and development of the Ethereum platform. And to grow the community of those that benefit from a technology that will better countless lives and industries in the years to come.”

In a report on December 10, UNICEF Innovation Fund invested as much as $100,000 in six firms for developing blockchain projects. And in February, Ethereum hardware hackathon ETHDenver partnered with UNICEF for a blockchain bounty token system.

The Lending Product of Binance

On October 7, cryptocurrency exchange Binance announced the launch of the eighth phase of its lending product. And in this phase, Binance will be able to start providing 14-day fixed-term lending products.

Moreover, the annualized percentage yield on loans begins at 3% for Bitcoin. And for BNB, USDT, and BUSD, it will reach 10%.

The initial launching of Binance’s crypto lending product was by the end of August. And during that time, it only supported Binance Coin, Ethereum Classic, and Tether. But in September, the products included privacy-focused coins Monero (XMR), Zcash (ZEC), and Dash.

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