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AID:Tech Leverages Circle’s Payment Solutions and USD Coin to Power Fraud Resistant Disaster Relief Delivery

August 26, 2021 GMT
(PRNewsfoto/Circle Internet Financial, Inc.)
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(PRNewsfoto/Circle Internet Financial, Inc.)
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(PRNewsfoto/Circle Internet Financial, Inc.)

DUBLIN and BOSTON, Aug. 26, 2021 /PRNewswire/ -- AID:Tech, a financial services company that brings transparency and accountability to federal relief distribution, will soon be leveraging the power of payment solutions from Circle, a global financial technology firm that provides internet-native payments and treasury infrastructure. Utilizing USD Coin (USDC), a blockchain-powered digital currency, and leveraging Circle’s payment rails, AID:Tech’s platform provides people in need with a fast and efficient channel to access the funds they need while also securing their digital identity.

Whether providing disbursements to victims of natural disasters or partnering with governments, charitable organizations or civil society organizations, the collaboration between AID:Tech and Circle highlights how digital assets can drive real-world solutions for people everywhere at any time.

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“Collaborating with AID:Tech to power the delivery of relief payouts via USDC to people impacted by natural disasters and helping connect underserved individuals to financial means is extraordinarily rewarding,” said Jeremy Allaire, Co-Founder and CEO of Circle. “It’s the application of the mission we set out to accomplish when we started our journey with Circle.”

In 2015, AID:Tech became the first company in the world to deliver international aid using blockchain technology. Working in partnership with leading governmental bodies, development banks, corporates and charities, including Women’s World Banking and St. Vincent de Paul Disaster Services, AID:Tech’s blockchain technology enables accessible, seamless and transparent delivery of data and payments directly to those in need.

“AID:Tech’s work with Circle accelerates our ability to deliver seamless, transparent payments transactions between humanitarian organizations, merchants and people requiring fast access to funds,” said Joseph Thompson, Co-founder and CEO of AID:Tech. “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.”

“Community partners help us help neighbors in need,” said 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.”

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About AID:Tech
At AID:Tech, we believe that the future of finance is borderless, accessible, private and personalised. In line with that vision, our mission is to reduce inequality and increase opportunity by making identity and payment services seamless and accessible to all. Since 2015, AID:Tech solutions are focused on non-crypto natives and we have helped organisations like Women’s World Banking, UK and German Governments and the Society of St. Vincent de Paul Disaster Services USA in their efforts to deliver assistance to those most in need and to leverage new digital tools to reduce financial exclusion. Today, the company finds itself positioned at the intersection of digital identity, digital payments and blockchain-powered transparency. Looking forward, AID:Tech is focused on deploying next generation crypto and blockchain solutions, bringing the power of traditional finance and DeFi to people all over the world.

Learn more at https://aid.technology

About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the principal operator of USD Coin (USDC), which has become the fastest growing, regulated, fully reserved dollar digital currency. USDC in circulation is greater than $27 billion and has supported over $900 billion in on-chain transactions. Today, Circle’s transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through programmable internet commerce. Additionally, Circle operates SeedInvest, one of the largest equity crowdfunding platforms in the U.S., which is a registered broker dealer.

Learn more at https://circle.com

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SOURCE Circle Internet Financial LLC