UN receives Circle grant to upgrade digital aid payments

Stablecoin issuer Circle has awarded a grant to support digital financial infrastructure across the United Nations.

The grant was announced at the World Economic Forum in Davos, Switzerland.

Circle said the funding will support the UN’s Digital Hub of Treasury Solutions to streamline cross-border payments.

The company did not disclose the size or structure of the grant.

The initiative builds on Circle’s earlier collaboration with UN agencies to deliver digital aid.

UN Development Programme administrator Alexander De Croo said digital payments can help maximise limited humanitarian budgets.

“Stablecoins allow us to make every dollar work harder,”

Alexander De Croo said.

Circle said modern financial infrastructure can reduce the cost of delivering aid by up to 20%.

Barham Salih said the technology helps preserve dignity and choice for displaced people.

“This is about using technology to uphold dignity and choice while maximising impact,”

Barham Salih said.

Circle said the grant aligns with the mission of its newly launched Circle Foundation.

Analysts expect stablecoins to play a growing role in global payments and aid distribution.