The Circle Foundation, Circle's philanthropic arm, announced its first international grant. The grant supports the United Nations' Digital Hub of Treasury Solutions (DHoTS). Unveiled at the World Economic Forum in Davos, the partnership aims to modernize the UN's aid delivery system. The initiative uses digital financial infrastructure, including regulated stablecoins like USDC, to streamline monetary transfers.
The collaboration seeks to make humanitarian aid faster, more transparent, and more efficient. This addresses legacy systems that handle over $38 billion in annual funds.
Previous pilot programs by the UN refugee agency (UNHCR) used USDC. These pilots demonstrated potential for significant cost savings of up to 20%. The programs also increased traceability and accountability in assistance delivery.