Circle’s USDC Initiative to Revolutionize $38B Humanitarian Aid with Blockchain Efficiency
At Davos, Circle unveiled plans to modernize global aid distribution through blockchain infrastructure. The initiative builds on its 2022 pilot with UNHCR that delivered USDC payments to displaced Ukrainians—demonstrating how stablecoins can bypass sluggish traditional banking systems.
The $38 billion humanitarian aid industry currently suffers from opaque cross-border transfers and excessive fees. Circle's new foundation will deploy digital payment technologies to accelerate fund delivery while improving auditability, crucial for donor accountability in crisis zones.
UNDP administrator Alexander De Croo emphasized blockchain's potential to stretch constrained aid budgets further. This development follows Circle's December establishment of a dedicated foundation, signaling long-term commitment to financial infrastructure reform.