About 300 families in Haiti stand to benefit from a $150,000 donation being made in digital currency to support nonprofit Hope for Haiti’s nutrition program, the organizations have announced.
Cryptocurrency platform Coinbase and Hope for Haiti estimate nearly 1,500 individuals will benefit from the donation, including mothers enrolled in the nutrition program and local vendors that use the Umoja digital wallet to receive aid and purchase products.
The donated funds can be disbursed in as little as three to six minutes in the form of the cUSD stablecoin, according to Robby Greenfield, the CEO of Emerging Impact, the company behind the Umoja platform. The merchants can utilize the Umoja wallet to transfer the funds to Mon Cash, a Haiti-based mobile money service.
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