United Nations Development Programme and Stellar Development Foundation Join Forces to Advance Blockchain Solutions for Financial Inclusion

SAN FRANCISCO, Jan. 27, 2025 /PRNewswire/ -- The United Nations Development Programme (UNDP) in Europe and Central Asia and the Stellar Development Foundation (SDF) have announced a strategic partnership aimed at harnessing blockchain technology to accelerate progress toward meeting the United Nations' Sustainable Development Goals and promoting financial inclusion worldwide.

With this partnership, UNDP and SDF will aim to create scalable blockchain solutions that drive equitable economic growth and strengthen economic resilience in developing regions. The collaboration will harness the Stellar network and open-source tools to enhance access to digital financial services, facilitate transparent and efficient cross-border transactions, and provide more secure, low-cost digital payment solutions, including for humanitarian aid, remittances, and national cash transfer programmes. The partnership will focus on empowering underserved populations and fostering innovation in emerging economies through a series of joint pilots, knowledge sharing, and capacity building.

Robert Pasicko, Project Manager of the Alternative Finance Lab at UNDP, remarked: "Our collaboration with the Stellar Development Foundation is a pivotal step toward harnessing cutting-edge technology for sustainable development. With nearly 1 billion people worldwide using cryptocurrencies and digital wallets, the potential for these tools to drive meaningful change in the development and humanitarian sectors is immense. By merging UNDP's global expertise with Stellar network capabilities, we aim to create innovative solutions that transform lives and communities. Together, we are committed to unlocking the power of blockchain to drive social impact on a global scale."

"The Stellar network was designed to support access to the global financial system for everyone, no matter where they live," said Denelle Dixon, CEO of the Stellar Development Foundation. "Partnering with UNDP to leverage blockchain technology for international development and financial inclusion aligns perfectly with our mission. This collaboration represents exactly the kind of transformative impact the Stellar Development Foundation was created to achieve. We are excited to be part of this crucial effort to drive innovation and empower communities around the world."

About the United Nations Development Programme
The United Nations Development Programme (UNDP) is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries and territories, we help nations to build integrated, lasting solutions for people and planet. Learn more at undp.org or follow at @UNDP. 

About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world's financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar's codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world's economic potential through blockchain technology. For more information, visit stellar.org/foundation.

SOURCE The Stellar Development Foundation