June 11

UNICEF Invests in Blockchain Startups for Financial Inclusion

By Michelle Lim

To help the masses around the world who still don’t have access to financial services, the UNICEF Venture Fund is investing in seven blockchain startups in six countries, including Kenya, Argentina, India, Mexico, Rwanda and Nepal, according to a UNICEF announcement today.

The seven companies — selected from 450 submissions in 77 countries — will receive up to US$100,000 in seed funding, with five of the seven choosing to receive a portion of the investment in Ether. Five of the startups are also female-led.

An estimated 1.7 billion people around the world remain “unbanked” and do not have access to basic financial services, such as a bank account, according to the World Bank’s latest figures.

Photo courtesy of Karolina Grabowska.

Source: Forkast News (link opens in a new window)

Finance, Technology
blockchain, financial inclusion, fintech, startups