Polygon Co-Founder Launches Stablecoin Donation Channel for Nepal Relief
Polygon co-founder Sandeep Nailwal has launched a stablecoin donation channel for Nepal's official disaster fund, aiming to support relief efforts after severe flooding in August. The campaign accepts cryptocurrency donations before converting them into Nepalese rupees for the government relief fund.
The initiative is supported by Polygon's Open Money Stack, Coinme, and Cross River Bank, which provide the routing, bridging, and conversion infrastructure behind the campaign. Blockchain for Impact has pledged $100,000 to the Nepal relief campaign.
Nailwal explained that stablecoins are suitable for cases where money needs to reach people quickly, but noted that converting cryptocurrency donations still relies on conventional banking infrastructure.