Circle Backs UN Push for Digital Payments in Humanitarian Sector
Circle Foundation has launched two initiatives in partnership with the United Nations Development Programme (UNDP) and World Food Programme (WFP) to explore digital payments using regulated stablecoins. The collaboration aims to improve the speed, cost, and transparency of aid payments while expanding access to digital financial services.
The first initiative involves establishing a Digital Asset Innovation Pool by UNDP with funding from Circle Foundation. This pool will provide a framework for using regulated payment stablecoins in development programs, complementing existing banking channels. It will offer operational and regulatory guidance, beneficiary safeguards, and tools for measuring payment costs, delivery times, and reach.
Circle Foundation will also provide a grant to World Food Program USA to support WFP's work on stablecoin-enabled payment infrastructure. This initiative will develop governance, risk, treasury, reconciliation, and compliance systems while connecting local fintech and mobile money providers.
WFP plans to test two to three country corridors over three years and use the results to assess efficiency, transparency, and resilience for its own operations and the wider humanitarian sector. UNDP has already built a track record of using blockchain-based digital payments through partnerships and pilots across multiple countries.