The International Rescue Committee (IRC) and the Stellar Development Foundation (SDF) have launched a pilot program to provide blockchain-powered aid disbursements to the people of Ukraine. The program, called Stellar Aid Assist, will use Circle’s stablecoin, USD Coin (USDC), to distribute funds via the Vibrant wallet app. This has an advantage over cash, which can be dangerous to move across borders and difficult to store securely. It also allows those without a bank account or credit/debit card to store the digital dollars on their phones and convert them to real currency at MoneyGram’s 400K+ agent locations in 175 countries. The pilot is small-scale, with 33 people already receiving USDC and a total of 100 planned across southeastern Ukraine. The project has the potential to lay the groundwork for future financial innovation for cash assistance and donation programs.
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