Decentralising philanthropy: Save the Children raises crypto for Ukraine appeal

Cryptocurrencies are gaining traction in the emergency response to the crisis unfolding the Ukraine.

Forbes reported this week that crypto donations to the Ukraine have reached $52 million with nearly 60,000 donations to the Ukrainian government and nongovernmental organisations supporting the military.

The Ukranian vice prime minister Mykailo Fedorov also tweeted on February 26th “Stand with the people of Ukraine Now accepting cryptocurrency donations” alongside a number of crypto wallet codes.

Save the Children was the world’s first international NGO to accept crypto donations as part of their response to the 2013 Typhoon Haiyan in Southeast Asia. The organisation raised $5 million in crypto at the time, and have now extended the #HODLHOPE campaign in their efforts to help families affected by war in the Ukraine.

Save the Children’s $19 million emergency appeal accepts crypto contributions from more than 60 cryptocurrencies, including Bitcoin, Etherium, USD Coin and Cardano.

According to Ettore Rossetti, lead advisor for digital, marketing and innovation partnerships at Save the Children, “Crypto donations have enabled truly borderless giving and is not only decentralising finance but also decentralising philanthropy.

“Crypto has become the biggest alternative funding stream for global emergencies like Ukraine and we are also accepting crypto proceeds from NFT projects.”

In order for crypto donors to restrict donations to the Save the Children’s Ukraine Crisis Relief Fund, they can “dynamically generate a crypto wallet address to the page, state the amount they wish to send and include “for Ukraine” in the “Donation Notes” field,” said a spokesperson.

Having operated in the Ukraine since 2014, the organisation has provided humanitarian aid to children and families, through supporting access to education, social support, clothes and hygiene as well as cash grants.

The funds raised will also be directed to neighbouring countries including Poland and Romania in support of the 660,000 refugees that have already fled Ukraine.

Crypto donations to the Save the Children can be made via the crypto donation page.