UN Refugee Agency accepts first Stablecoin crypto donation from Binance Charity to support Ukraine's efforts

The donation will go towards providing humanitarian, legal & social assistance including psychosocial support and emergency shelter to people in need.

USA for UNHCR, the UN Refugee Agency, accepts its first Stablecoin crypto donation towards the organisation’s humanitarian support for families forced to flee Ukraine to neighbouring countries. The $2.5 million USD equivalent from Binance through Binance Charity. The BUSD donation is a further demonstration of how cryptocurrency is playing a key role in raising vital funds and providing humanitarian aid for the crisis in Ukraine.   

Stablecoins bridge the world of cryptocurrency and fiat currency together as their prices are tied to a reserve asset like the US dollar or gold.   

The donation will go towards providing humanitarian, legal & social assistance including psychosocial support and emergency shelter to people in need. More than 10 million people have already been displaced due to the crisis. Four million people have found safety in neighbouring countries like Poland, Moldova, Romania, and Hungary while millions more have been forced from their homes but remain inside Ukraine.    

“Binance Charity’s commitment to the families fleeing the war in Ukraine shows the innovative philanthropic power of crypto in action,” said Anne-Marie Grey, Executive Director and CEO of USA for UNHCR. “This generous support will make a life-changing difference for families forced to flee, and more importantly, it shows families that a caring and committed global community is stepping forward to help during their darkest times.”  

Helen Hai, Head of Binance Charity, said, “Every day we see more casualties, more destruction, more lives lost. Our hearts ache for the people of Ukraine. We are proud that we’ve been able to work with UNHCR to deliver its first BUSD crypto donation. UNHCR’s tireless efforts and second-to-none experience in assisting refugees make them an obvious choice to support as part of our $10 million USD in crypto donations.”   

Outside Ukraine, UNHCR continues to work with national authorities in neighboring countries to strengthen reception capacity as well as implement Blue Dots (children and family protection support hubs) in collaboration with UNICEF and other partners.