Polygon co‑founder launches stablecoin donation channel for Nepal disaster relief

Polygon co‑founder Sandeep Nailwal announced a new stablecoin donation channel that lets donors contribute USDC to Nepal’s official disaster‑relief fund. The crypto is collected, converted to Nepalese rupees and then transferred through recognized financial channels to the Prime Minister’s Disaster Relief Fund.

How the donation flow works

Donors send USDC on either the Ethereum or Polygon networks to a public wallet managed by Engage Nepal, a U.S.‑based 501(c)(3) nonprofit. Polygon’s Open Money Stack provides the routing, bridging and conversion infrastructure, while Coinme and Cross River Bank supply payment‑processing and banking services. After conversion to fiat, the funds are delivered to the Nepalese government’s disaster‑relief account.

Key participants and commitments

• Blockchain for Impact – pledged $100,000 to the campaign.
• Polygon Open Money Stack – supplies the on‑chain routing and conversion layer.
• Coinme – supports the crypto‑to‑cash payment pathway.
• Cross River Bank – provides regulated banking services for the fiat transfer.
• Engage Nepal – handles collection, accounting and delivery of converted funds.

Context of the relief effort

The drive follows catastrophic flooding triggered by a glacier collapse on August 26, which caused hundreds of deaths and left thousands missing in Nepal and Tibet. Over 90,000 people were reported affected, with infrastructure damage that isolated communities from food, water and emergency services.

Comparison with other crypto‑based aid

Earlier crypto contributions for the same disaster include Ripple’s $300,000 pledge and a Solana‑based USDC auction that raised roughly $167,000. The Polygon‑backed channel differs by using a stablecoin (USDC) to avoid price volatility and by routing funds through a U.S. nonprofit and a regulated bank before reaching the Nepalese fund.

Transparency and limitations

Public blockchain records can confirm when donations enter the designated wallet and when they move to another address, but they cannot independently verify the subsequent use of fiat after it enters the bank or government system. Nepal’s government does not list a cryptocurrency address on its official donation page, making this channel an intermediary for crypto holders.