Ripple has just announced a new initiative called “Unlocking Opportunity.” This program is part of their ongoing partnership with Mercy Corps Ventures (MCV). It aims to support entrepreneurs and small to medium-sized enterprises (SMEs) in emerging markets.
The focus here is on building solutions for financial resilience. They plan to use blockchain and fintech technologies to achieve this.
MCV is the impact investing arm of Mercy Corps. This organization is well-known for its work in development and humanitarian aid. Each year, MCV evaluates over 1,500 startups in frontier markets. They back founders who create products that tackle important financial inclusion challenges.
With this expanded partnership, Ripple will provide both financial and technical support. They will assist fintech companies and SMEs, especially those using the XRP Ledger (XRPL) and Ripple’s upcoming stablecoin, Ripple USD (RLUSD). The partnership will focus on key areas like savings, remittances, micropayments, and tokenization of real-world assets (RWAs).
Ripple is committing more than $5.5 million to help Mercy Corps Ventures develop transformative and scalable solutions.
The “Unlocking Opportunity” initiative kicks off with MCV’s Crypto for Good Fund. This fund offers equity-free grants of up to $100,000. It's designed to support real-world Web3 applications in the Global South. The fund will focus on decentralized finance (DeFi) loans, tokenization of RWAs, savings and payments solutions, and stablecoins for humanitarian aid.
Applications for the Crypto for Good Fund are now open.
On December 3rd, Mercy Corps Ventures and XRPL Commons will host a webinar. This session is for builders interested in using the XRP Ledger for their submissions to the Crypto for Good Fund. With low transaction costs, scalability, and the upcoming Ethereum Virtual Machine (EVM) sidechain launch, XRPL is a great platform for fintechs looking to create affordable financial solutions.
Previous projects funded through the Crypto for Good Fund include Ejara’s tokenization of Cameroonian government bonds. This initiative provided a low-risk, high-yield savings product for unbanked micro, small, and medium enterprises, reaching over 11,000 savers during its pilot phase. Another notable project was DIVA Donate’s climate risk financing pilot. They used stablecoins, smart contracts, and cryptocurrency to support farmers in the Horn of Africa.
These initiatives show how digital currencies can be harnessed for charitable causes.