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Circle’s philanthropic arm has awarded its first international grant to a United Nations treasury agency working to modernize how $38 billion in annual humanitarian aid reaches displaced populations and crisis zones.
The Circle Foundation grant, announced Wednesday at the World Economic Forum in Davos, will fund the UN’s Digital Hub of Treasury Solutions as it builds blockchain-based payment infrastructure designed to cut transaction costs and accelerate cross-border transfers that currently move through slow, costly correspondent banking networks.
Globally, an estimated $38 billion in humanitarian assistance still moves through traditional correspondent banking systems, which are often slow, opaque, and costly.
According to UN officials, these inefficiencies can delay aid delivery by weeks and erode the value of funds through fees and foreign-exchange friction.
The Circle Foundation international grant is designed to help DHoTS deploy digital payment infrastructure that shortens settlement times and increases transparency across UN treasury operations.
The Circle Foundation is backed by Circle Internet Group, the issuer of USDC, one of the world’s largest regulated dollar-pegged stablecoins.
By supporting DHoTS, Circle aims to integrate blockchain-based payment rails directly into the UN system, potentially reshaping how humanitarian funds are distributed at scale.
“Using stablecoins allows us to get more value from every dollar at a time of growing needs and constrained budgets,” — Alexander De Croo, Administrator, UN Development Programme.
De Croo added that digital payment infrastructure could reduce operational costs while improving accountability, a persistent challenge in large-scale humanitarian finance.
The Circle Foundation international grant will support experimentation with programmable payments, faster cross-border settlement, and improved auditability across multiple jurisdictions.
Circle executives framed the Circle Foundation international grant as part of a broader effort to modernize humanitarian finance with tools already widely used in global markets.
Elisabeth Carpenter, Circle’s Chief Strategic Engagement Officer and Founding Chair of the Circle Foundation, said blockchain infrastructure could help bridge long-standing gaps between donor intent and on-the-ground delivery.
“Modern humanitarian finance needs modern infrastructure,” — Elisabeth Carpenter, Chief Strategic Engagement Officer, Circle; Founding Chair, Circle Foundation.
UN agencies have increasingly emphasized beneficiary choice and dignity in aid delivery, moving away from in-kind assistance toward cash-based programs.
From that perspective, the Circle Foundation international grant aligns with a broader shift toward digital wallets and direct transfers that allow recipients to decide how best to meet their needs.
“This is about using technology to uphold dignity and choice for people forced to flee, while maximizing impact for every dollar entrusted to us,” — Barham Salih, High Commissioner, UN Refugee Agency (UNHCR).
According to Circle, the partnership with DHoTS will focus on faster cross-border transfers, seamless local currency conversion, programmable disbursements that reduce manual reconciliation, and upgrades to legacy treasury systems that currently rely on fragmented banking networks.
The Circle Foundation international grant comes amid accelerating regulatory clarity for stablecoins in major financial hubs.
Stablecoins are now valued at more than $312 billion globally and are increasingly used for everyday payments, commercial settlements, and cross-border remittances.
Industry estimates suggest stablecoin payment volumes could grow at an annual rate exceeding 80%, potentially reaching tens of trillions of dollars by the end of the decade.
At the same World Economic Forum meeting in Davos, Hong Kong authorities confirmed plans to issue the first batch of stablecoin licenses under the city’s new regulatory framework.
The licensing regime will require approval from the Hong Kong Monetary Authority and strict compliance with reserve management, par-value redemptions, segregation of client funds, and anti-money laundering standards.
This marks one of the most comprehensive regulatory approaches to stablecoins outside the United States.
Within the crypto industry, prominent figures have also weighed in on the future direction of stablecoin development.
Ethereum co-founder Vitalik Buterin has publicly argued for more resilient and diversified stablecoin models that reduce overreliance on any single fiat currency, while other executives have stressed the need for neutral, interoperable payment infrastructure.
