The leading humanitarian agency, the United Nations International Children’s Emergency Fund (UNICEF), said one of its supporters donated $1 million worth of Bitcoin to its cause last week. This information was contained in a press release obtained by our correspondent. Huobi Global, a crypto group specializing in cryptocurrency exchange and trading services for institutional investors is the major donor. This is an unprecedented move in UNICEF’s history, as the agency has rolled out further plans to ensure hitch-free donations via cryptocurrencies.

Bitcoin’s popularity is gathering momentum

UNICEF used CryptoFund, a newly launched financial instrument, to receive the donations. CryptoFund enables UNICEF to receive, manage, and spend cryptocurrencies. UNICEF’s Innovation Fund is a collective fund mainly created to support open-source, child-friendly tech useful for children.

In a tweet shared by Huobi Charity, the body noted that it associates itself with UNICEF’s goals aimed at applying modern solutions to current problems and employing open-source and decentralized technology that supports children and youth worldwide. As of today, the Innovation Fund is worth $34.9 million, 2267 ETH, and 8 BTC.

The organizations aim to use both funds to support global innovations and blockchain growth to assist children and youth worldwide. Furthermore, the funds support both fiat and crypto businesses, including startups, to promote innovative solutions to support the global children’s cause. Adopting cryptos as a means of donating and receiving money will enable UNICEF, its supporters, beneficiaries, and the public in general to monitor the destinations and uses of the funds.

With this development, transparency and accountability will be the watchword in the organizations’ finance. Huobi Global was founded in 2013 and financed by Sequoia and ZhenFund. The firm is a leading crypto service provider which focuses on the establishment of various networks. The firm, which has subsidiaries and partners in 12 countries, prioritizes secure and professional services to loyal clients in more than 130 countries.

UNICEF explains why it accepts cryptocurrencies

Thomas Davin of UNICEF’s Innovation Office, in a statement shared with journalists, explained why UNICEF accepts cryptocurrencies. Thomas noted that the UNICEF Innovation Fund, which has received a $34.9 million, is designed to support early-stage, open-source, and startup techs that have the prospects of supporting children’s cause globally. He also stated that partnering with the Huobi Charity will further add more impetus to the program and accelerate UNICEF’s goal of achieving smooth digital financing in the foreseeable future.

UNICEF, as contained in the statement released by Davin, maintains that the crypto technological innovation is unprecedentedas. At the same time, Bitcoin, Ethereum, and other blockchain tech apps are capable of solving any potential problem. Davin also revealed that CryptoFund has investment in 12 tech firms to assist startups and emerging companies that have received up to $100,000 from the UNICEF’s Innovation Fund. Huobi Global, in a tweet, said the firm is pleased to partner with UNICEF to make use of blockchain tech for humanitarian support. The statement added that the partnership would boost the work of UNICEF Innovation Fund as well as CryptoFund to promote technological advancement.