During the annual Swell conference, Ripple announced a $ 10 million contribution to Mercy Corps

To help you use digital assets in your work to develop financial inclusion in emerging markets.

Mercy Corps is a non-governmental humanitarian aid organization that aims to create economic opportunities in countries where the financial system is not functioning properly. The organization claims to have helped more than 220 million people survive various humanitarian conflicts.

According to an   announcement  , Mercy Corps will partner with Ripple and its nonprofit organization RippleWorks to support solutions that include digital assets and cryptocurrencies.

Speaking at the conference, Scott Onder, senior managing director at Mercy Corps Ventures, highlighted the need to ensure that vulnerable populations are not left behind in the fintech revolution.

“The existing financial system is fragmented, outdated and exclusive – leaving 1.7 billion people without a bank account and disproportionately excluding women,”

“Emerging fintech, encryption and blockchain technologies have the potential to transform you radically, but there are substantial risks for the world’s most vulnerable people if their needs are not taken into account while these new technologies are designed and deployed,” he added. Onder.

FinX, a joint venture of Mercy Corps Ventures and Mercy Corps, aims to improve financial inclusion in distressed markets by focusing on products around distributed accounting technology.

During the conference, Ripple also hinted that the second largest bank in the United States, Bank of America, is using one of its products. The screenshot of the video was posted by a member of the XRP community.

“Tecnologias emergentes de fintech, criptografia e blockchain têm o potencial de transformá-lo radicalmente, mas há riscos substanciais para as pessoas mais vulneráveis ​​do mundo se suas necessidades não forem levadas em consideração enquanto essas novas tecnologias são projetadas e implantadas”, acrescentou Onder.

FinX, uma joint venture da Mercy Corps Ventures e da Mercy Corps, visa melhorar a inclusão financeira em mercados em dificuldades, concentrando-se em produtos em torno da tecnologia de contabilidade distribuída.

Durante a conferência, Ripple também deu a entender que o segundo maior banco dos Estados Unidos, o Bank of America, está usando um de seus produtos. A captura de tela do vídeo foi postada por um membro da comunidade XRP.