India-Born US Tech Entrepreneur Launches Stablecoin-Based Nepal Flood Relief Campaign

An India-born tech entrepreneur in the US has launched a stablecoin-based campaign to support people affected by floods in Nepal and contribute to the Government of Nepal's Prime Minister Disaster Relief Fund.

The campaign, organized by Sandeep Nailwal, co-founder of Polygon Labs, allows people around the world to donate in stablecoins through NepalRelief.org, with the funds converted into local currency and directed to the government's relief fund.

As of September 6th, $173,202 (NPR 26.23 million) had been collected, according to NepalRelief.org.

Nailwal highlighted the close historical, cultural, and family ties between Nepal and India as a personal motivation for supporting the initiative.