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Circle Foundation: Exploring stablecoin payments for humanitarian assistance, providing funding to the United Nations Development Programme and the World Food Programme

The Circle Foundation announced two grants to the United Nations Development Programme (UNDP) and the World Food Programme (WFP) to explore the application of digital payments and digital financial infrastructure in humanitarian aid and development projects.The Circle Foundation stated that the relevant programs will study how to utilize digital payments and regulated payment-type stablecoins to disburse funds to aid recipients more quickly, transparently, and at a lower cost.For the UNDP, the grant will be used to establish and operate a "Digital Asset Innovation Pool," helping country offices expand previous digital payment pilot projects conducted in Syria, Haiti, Guatemala, and Gambia from single projects to regular project execution, and provide support such as regulation, operations, and beneficiary protection; this mechanism will not replace traditional banking channels but will serve as a complementary option outside the existing payment system.For the WFP, the grant will support the establishment of governance, risk management, funding, reconciliation systems, and compliance tools necessary for stablecoin payments, and integrate local fintech and mobile payment services. Over the next three years, the WFP plans to test 2 to 3 payment channels connecting its payment system with local financial service providers and markets to assess the performance of stablecoin payments in terms of efficiency, transparency, and resilience.

first_img Strike CEO claims that Bitcoin and AI can help humanity regain time

Jack Mallers, CEO of Strike, stated in the first episode of Bitcoin Magazine's television program that Bitcoin and artificial intelligence can help humanity regain time and re-engage in creation. He believes that currency is essentially an abstract form of human time and energy, and poor-quality currency erodes people's time and energy, forcing them to work longer hours to buy a house, go on vacation, or pursue artistic interests; whereas high-quality currency rewards time and energy, and Bitcoin and AI can liberate humanity from the "hard labor" of poor-quality currency. Mallers also cited the Wright brothers as an example, stating that when they invented the airplane, the United States was in a gold standard period.At the time of Mallers' remarks, Bitcoin was experiencing its best market performance in years. In August, Bitcoin rose about 25%, marking the strongest single-month performance since 2026 and the first August since 2021 to record positive returns, closing at around $78,000. This surge was driven by U.S. Treasury Secretary Scott Bessent's expansion of long-term bond repurchases, which lowered yields and triggered billions of dollars in short liquidations, making "devaluation trades" the focus of the market again, with the dollar weakening and the scale of U.S. Treasury debt reaching $40 trillion.Regarding the U.S. economy, Mallers stated that such a level of debt is unsustainable, and whether interest rates rise or fall is irrelevant; everything is inflationary and difficult to sustain. Data released last Friday showed that the core CPI in the U.S. for August, excluding food and energy, rose 0.3% month-on-month, higher than expected. The U.S. is deeply mired in an affordability crisis, and the market widely expects the Federal Reserve to raise interest rates this week to curb inflation.
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