More than 10 million people have already been displaced due to the crisis. The donation will go towards providing humanitarian, legal and social assistance including psychosocial support and emergency shelter to people in need. 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 BUSD donation is further demonstration of how cryptocurrency is playing a key role in raising vital funds and providing humanitarian aid for the crisis in Ukraine. The $2.5 million USD equivalent from Binance through Binance Charity. In Latin America, crypto as a payment is “most used for everyday purchases, led by apparel stores, supermarkets, restaurants and car ride services, Binance research shows.NEW YORK, NY, April 5, 2022: USA for UNHCR, the UN Refugee Agency, accepts its first stablecoin crypto donation towards the organization’s humanitarian support for families forced to flee Ukraine to neighboring countries. consumer companies plan to accept cryptocurrency payments by the end of 2023, and 87 percent agree that this will give them a competitive advantage.”Īccording to a Mastercard study conducted in 2022, 51 percent of Latin American consumers have already “conducted a transaction with crypto assets.” Purchasing products and services with cryptocurrencies is “a growing practice worldwide.”Īccording to a study by Deloitte Research, “nearly 75 percent of U.S. They’ve launched local currency crypto purchasing channels and partnered with Despegar to offer crypto payments “for travel in Argentina and Mexico.”īinance is also working “with payment platforms Credencial Payment and Vita Wallet, and has ventured into sports via the NFT and fanverse of Brazil’s Brasileirão Assaí football league.” The goal is not just “to extend knowledge, but to empower societies, especially those underserved, by highlighting the opportunities available through blockchain technology and the Web3 landscape.”īinance, committed to bridging the gap between crypto and everyday needs, has been busy across Latin America. On a regional scale, Binance is committed “to broadening its educational partnerships and community outreach initiatives across Latin America throughout the year.” His familiarity, honed over years of first-hand experience, “enables him to design tailored products, services, and strategic partnerships that closely align with the specific demands of local users.”įurthermore, Lin’s work goes “beyond regional boundaries – he’s invested in enhancing the global growth of the blockchain and cryptocurrency sector, while also striving to foster broader acceptance of these innovative technologies, recognizing their potential to globally benefit society.”
Spending the majority of his formative years in Central America, Lin brings “a unique understanding of the region to his new role.”
We see a huge opportunity to help develop platforms, products and services for different industries, both in the physical and virtual world, across the region,”
Crypto assets and the technology that underpins them, blockchain, are democratic, inclusive and can generate countless benefits for people who today cannot access the traditional financial system. “Latin America is a fast-growing and an important region for Binance. Prior to joining Binance, he was “an Executive Director in the Global Markets Division at Goldman Sachs based in Hong Kong.”
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