The Glo Foundation has selected Coala Pay as the first recipient of its 'Strengthen Humanitarian Aid' funding, backed by a $250,000 donation from the Stellar Development Foundation. Glo Dollars on the Stellar blockchain now automatically support Coala Pay's platform for efficient international aid delivery. Users can fund humanitarian efforts seamlessly without additional donations.
Coala Pay, a Web3 platform for last-mile money movement in international aid, is the inaugural recipient of funding from The Glo Foundation's new 'Strengthen Humanitarian Aid' cause area, enabled by a $250,000 donation from the Stellar Development Foundation. Glo Dollars on Stellar now direct profits to Coala Pay by default, allowing users to improve aid localisation for INGOs, foundations, and donors at no extra cost. The process involves buying Glo Dollars on Stellar, where fiat backing generates revenue that funds Coala Pay automatically. Users can adjust cause areas via the Glo Dollar app to support issues like poverty, climate change, or Web3 public goods. Coala Pay leverages Stellar and Web3 to overcome legacy financial inefficiencies, speeding up and cheapening aid to grassroots organizations amid funding shortfalls.
