The stellar foundation established a partnership with UNHCR to provide easy payment services for Ukrainian refugees.
On 15 December, The Stellar Development Foundation announced that it teamed up with the United Nations High Commissioner for Refugees (UNHCR).
Under this partnership, the Ukrainian refugees will be able to use the Stellar blockchain network to accept payments in USDC stablecoin.
Just announced: @RESCUEorg and @StellarOrg announced a first-of-its-kind blockchain-powered aid disbursement system available today in Ukraine. #StellarIRLhttps://t.co/310U1GBqt2
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— Stellar (@StellarOrg) December 15, 2022
Refugees will be required to redeem the USDC on any MoneyGram services’ location. So basically this will also allow refugees to accept payments without any need for a bank account.
Alongside steller network support, another collaboration with Patricia Blockchain Foundation aimed to bring cash and vouchers through the Patricia network.
Tori Samples, Stellar aid assistant product manager, talked about this partnership with a Binance-owned crypto news media Cointelegraph and explained that such collaboration will help to bring aid organisations’ delivering assistance in difficult environments.
He also noted that usually crypto assets have no real-world use case but her the case is different.
Further, product manager added:
“It can’t be experimental or not hold up to real-world use. Donor dollars are some of the most scrutinized in the entire world. The fact that some of the largest aid organizations are using Stellar Aid Assist today in Ukraine shows that it has real-world value and the potential to scale.”
Russia vs Ukraine
In late Feb of this year, the Russian military started invasions on the Ukrainian army and that resulted in a very big tough situation for the citizens of Ukraine because invasions & conflict resulted in a huge losses for the country in almost every aspect.
The majority of the countries supported Ukraine in that situation. In particular, the Crypto Community jumped in support of Ukraine. Many people from the crypto sector donated crypto assets to Ukraine, to help the Ukrainian military.
Read also: Let’s see if rumors are right about the XRP lawsuit, Says Cardano founder
Stellar will provide USDC payment services for Ukrainian refugees
https://bitcoinik.com/stellar-will-provide-usdc-payment-services-for-ukrainian-refugees/feed/
https://bitcoinik.com/stellar-will-provide-usdc-payment-services-for-ukrainian-refugees/feed/
