Home
Focus Areas
About Us
What if you could send money to people living in extreme poverty around the world and put it directly into their pockets? That's the idea behind Glo, a new stablecoin that has raised more than $2 million from donors and is scheduled to launch next month, CNBC reports.
Created by a nonprofit called Global Income Coin, the cryptocurrency is backed by a single US dollar, so if you send $1,000 to Glo and send it back to Glo, it stays in your crypto wallet and can be converted back to regular US dollars if you need it.
Every Glo that exists is backed by a single US dollar.
Jeff Milewski, one of Glo's co-founders, tells TechCrunch that every $1,000 sent to Glo generates $25 in profit for the charity, which gives 100% of that profit to people living in extreme poverty.
The charity, GiveDirectly, has been providing direct cash transfers to people living in poverty in Kenya for 10 years, but Glo is the first stablecoin of its kind, according to a press release.
It works like this: You send Glo to GiveDirectly, and the charity creates 1,000 Glo for you and sends them to you.
Every Glo that is sent stays in the Glo reserve, where it can be converted back to regular US dollars if need be.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
People of color make up about 20% of Spokane County, Wash., but they own about 8% of the county's businesses, reports the Spokesman-Review. That's why the Spokane Workforce Council is...more
The Oklahoma Arts Council has released its annual list of grant requests, and it's a doozy. This year's list includes a call for artists to "bring the arts to other statewide organizations," as...more
One of the world's biggest asset managers is taking a stand against climate changeby investing in some of the world's poorest countries. Envestnet, which has more than $100 billion in assets...more
The Rotary Club of Hagerstown has handed out $62,800 in grants to 25 charities in the Washington County area, reports the Herald-Mail. The grants were awarded at a June 19 lunch held by the club,...more
If you're in the market for a new place to live, Technogym has just the thing for you. The fitness equipment and technology company has announced a partnership with Live Work Learn Play, a real...more
Amazon plans to build a data center in Malaysia, Microsoft is investing in the country's new cloud and artificial intelligence infrastructure, and Malaysia Digital Economy Corporation (MDEC) is...more
When Kinda Darwish decided to start a bakery in Beirut, she had no idea she'd end up kneading dough for the International Labor Organization and running a second-hand bookstore in the Lebanese...more
A Yale grad with more than 20 years of nonprofit and community leadership experience has been named the new executive director of a Connecticut nonprofit that helps people grow their own food, Fox...more
Hamis Kiggundu's journey from "humble beginnings" in Uganda to "be a global icon in business and philanthropy" has just taken him to a new level. The European International University in Paris...more
A community land trust, or CLT, is a non-profit organization that purchases land on behalf of its members and sells it at discount rates to people who otherwise wouldn't be able to buy homes of...more
Community Building News from...
Wells Fargo Foundation
New Hampshire Charitable Foundation
Community Foundation of Southeast Kansas
Dallas Foundation
Oak Park-River Forest Community Foundation
Greater Washington Community Foundation
Rhode Island Foundation
Community Foundation for Greater Atlanta
California Community Foundation
Arizona Community Foundation
Social Entrepreneurship
Spotlight
Halcyon Incubator Selects Inaugural Class of Fellows
Washington, D.C. based incubator for social entrepreneurs, Halcyon Incubator, has selected seven ventures to move into the newly renovated Halcyon House in September for its inaugural class of fellows.
