- Binance has offered a $1 million donation to Mercy Corps Ventures.
- The $1 million donation from Binance Charity will support the early-stage venture capital fund of MCV.
The largest cryptocurrency exchange platform in the world, Binance, has pledged a $1 million donation to Mercy Corps Ventures (MCV), its impact investing division, as part of its Binance Charity program. The collaboration between Binance and MCV aims to give startups in developing markets access to capital, technical support, and business development assistance.
The funding will serve as “investment capital” for up to five high-impact startups. That uses responsible fintech and Web3 solutions to promote financial inclusion and resilience for underserved and low-income groups.
Helen Hai, Head of Binance Charity, stated that,
We’re thrilled to partner with Mercy Corps Ventures to support their mission of promoting financial inclusion through innovative digital solutions. The partnership perfectly embodies our goal of using blockchain technology to transform lives and create more opportunities for underserved populations.
MCV’s Funding Tech
A non-profit organization called Binance Charity is working to make Web3 an effective tool for social change. Also, MCV has made investments in 43 early-stage businesses, helping them to grow and raising over $396.7 million in additional funding.
The partnership between Binance Charity and MCV seeks to promote greater financial inclusion and promote transformation in developing markets with ethical and cutting-edge digital solutions. Further, the $1 million donation from Binance Charity will specifically support the seed and early-stage venture capital fund of MCV.
In addition, MCV oversees the Crypto For Good Fund, which provides grant funding to mission-driven social enterprises using Web3 technology to address the world’s most pressing problems. Moreover, organizations from Africa, South and Southeast Asia, Latin America, the Caribbean, the Middle East, the Pacific Islands, and the Western Balkans were eligible to apply for this year’s Fund. MCV received 200 applications from 50 different nations.
