Summary
- Save the Children said it has launched a new Bitcoin fund that can hold Bitcoin and stablecoins for an extended period.
- Unlike before, this fund can operate assets in virtual asset form until needed instead of immediately converting them to cash.
- Key operational measures such as specific governance structures and risk management strategies have not yet been disclosed, requiring investors to approach cautiously.
International relief organization Save the Children has launched a new fund that can hold virtual assets (cryptocurrencies) such as Bitcoin (BTC) for an extended period. It said the measure is intended to enable rapid distribution of funds even if traditional banking networks collapse or access is restricted.
On the 11th (local time), Save the Children said it has created a "Bitcoin fund" in cooperation with digital asset service provider Fortris that can hold Bitcoin and stablecoins for up to four years. Donations will not be immediately converted to cash as before, but may be operated in virtual asset form until the time of need.
Antonia Rupel, head of Innovation and Partnerships at Save the Children, said, "Many organizations accept Bitcoin, but few actually hold it or incorporate P2P technology into their operating systems," and added, "Donors wanted assets to be converted to cash at a time that would maximize impact, and this fund was designed to meet that demand."
Since first receiving Bitcoin in 2013, Save the Children has raised virtual asset donations for children in conflict areas in Ukraine, Gaza and Sudan through the "Hodl Hope" initiative. The organization emphasized, "In disaster and conflict situations, traditional banking networks are often paralyzed, causing delays in delivering aid," and "the crypto fund provides financial agility to address these structural bottlenecks."
Janti Sulipto, CEO of Save the Children U.S., said, "It is solutions outside the traditional framework that allow us to stay with children when they need us most," and added, "We will strengthen global responsiveness by integrating blockchain's speed, cost efficiency and inclusivity into emergency relief and long-term programs."
However, critics note that several key operational issues remain unclear in this announcement. Specific governance structures, decision-making authority over when to convert held assets to cash, and risk management strategies to respond to price volatility have not been disclosed.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
