Facebook’s Crypto Launch Partner Kiva Is Introducing a Refugee Investment Fund
Tuesday, June 25, 2019
By Felix Salmon
One of Facebook’s launch partners in its new cryptocurrency Libra is Kiva, a nonprofit that has married the concept of third-world microloans to first-world crowdfunding.
Catch up quick: Ordinary Americans use Kiva to lend money to some of the poorest people in the world, receiving 0% interest in dollars. The dollars go to microfinance institutions in more than 80 countries, which convert them to local currency and then lend them out to individuals who have to repay the loans with interest.