Financial services company AID:Tech, which provides federal relief distribution services, 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) and leveraging Circle’s payment rails, AID:Tech’s platform provides people in need with a fast and efficient channel to access the funds 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.
“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 began 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.”