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Bitcoin (BTC) and cryptocurrencies are attracting the attention of both individuals and institutions. In this regard, yet another institution has opened its doors to BTC.
According to The Block, Save the Children, an international non-governmental organization, has announced the launch of a new Bitcoin Fund that will accept donations in Bitcoin and hold these donations for up to four years.
The fund's goal is reportedly to maximize the value of donated Bitcoins by holding them for up to four years.
Save the Children is partnering with digital asset specialist Fortris to launch a fund that will securely hold and manage donated Bitcoins.
The organization stated that the fund will also serve as a platform to test and scale new ways of providing cash and voucher assistance using Bitcoin, stablecoins, and digital wallets, aiming to deliver funds to families faster, more transparently, and at a lower cost.
Save the Children also added that in 2013 it became the first international non-governmental organization to accept Bitcoin donations.
Save the Children USA President Janti Soeripto said, “Especially when traditional foreign aid funds are insufficient and children need us most, unconventional solutions are essential so that we can continue to be there for them. By integrating blockchain-based tools into our emergency response and global programs, we will be able to provide faster and more efficient assistance to children in crisis.”
*This is not investment advice.