AID:Tech, a financial services company focused on transparency and accountability in federal relief distribution, has announced that it will soon be utilising the Circle payments solution and its digital dollar stablecoin, USD Coin.
According to the company these additions will allow for AID:Tech’s platform to provide their consumers with fast and efficient funds they need access to, while also securing digital identity.
The partnership with Circle will allow AID:Tech’s blockchain technology to continue to deliver their services in a number of situations, including providing disbursements to victims of natural disasters or partnering with governments, charitable organisations or civil society organisations.
Jeremy Allaire, co-founder and CEO of Circle says: “Collaborating with AID:Tech to power the delivery of relief pay-outs via USD Coin to people impacted by natural disasters and helping connect underserved individuals to financial means is extraordinarily rewarding. It’s the application of the mission we set out to accomplish when we started our journey with Circle.”
Joseph Thompson, co-founder and CEO of AID:Tech adds: “AID:Tech’s work with Circle accelerates our ability to deliver seamless, transparent payments transactions between humanitarian organisations, merchants and people requiring fast access to funds. In the wake of disaster, money matters and timing is everything. This collaboration gives AID:Tech an opportunity to make a meaningful impact when people need it most.”
AID:Tech became the first company to deliver international aid using blockchain in 2015. Since then they have partnered with many international organisations including governmental bodies, development banks, corporates and charities, including Women's World Banking. AID:Tech is currently working with St. Vincent de Paul Disaster services to develop ways to address disasters, such as flooding on the East coast of the USA.
“Community partners help us help neighbours in need,” says Elizabeth Disco-Shearer, CEO of St. Vincent de Paul Disaster Services. “We first ran a hugely successful pilot with AID:Tech in Florida in 2018, and it opened up our eyes to the power of blockchain and how it can help us provide more disaster services faster. We’re grateful to work with AID:Tech and witness how new financial solutions can make a difference.”