Sandeep Nailwal launches crypto relief campaign for Nepal

Polygon co-founder Sandeep Nailwal has launched a cryptocurrency donation campaign to support the Government of Nepal’s Prime Minister Disaster Relief Fund. The initiative aims to provide rapid emergency aid following a devastating glacier-related disaster that began on August 26, which triggered massive debris flows and floods in northern Nepal. The disaster has resulted in more than 1,250 deaths and left thousands missing.

The campaign utilizes stablecoins to facilitate fast movement of funds, bypassing potential delays in traditional payment channels. The infrastructure involves Polygon’s Open Money Stack for routing and bridging, with Cross River Bank and Coinme assisting in converting crypto proceeds into Nepalese rupees. The U.S.-based nonprofit Engage Nepal manages the collection and accounting process.

Several organizations have pledged support to the relief efforts. Blockchain for Impact has committed $100,000, while Ripple has pledged $300,000. Additionally, the Solana Foundation and Mallow have raised approximately $166,946. The United Nations has launched a $49.6 million humanitarian appeal to assist the estimated 84,270 people affected by the disaster.