Brazilian cryptocurrency broker FlowBTC and Fundação Celo will donate around R $ 100,000 to charities in Brazil. According to a note sent to Bitcoin Portal on Friday (19), the donation is part of the launch campaign for stablecoin Celo Dollar (cUSD), which will be listed by the company next month.
The partnership will donate 20,000 cUSD, equivalent to US $ 20,000 – approximately R $ 110,000 at the current price. The objective, says the note, is to promote the importance of financial inclusion for vulnerable communities.
The choice of institutions to receive donations will be made through the analysis of videos sent by the public, that is, anyone can make a recording talking about the institution's work. It can be an NGO, impact startups or projects focused on social or environmental issues.
To be analyzed, the publication of the videos must contain the hashtags #criptoparaobem and #celonaflow and can be done both on Twitter and Instagram, according to regulations.
In the presentation, the announcer should explain in about a minute how the institution he has chosen can benefit from Celo technology and its stablecoin and state why it deserves to receive the award.
According to the note, the videos and institutions will be evaluated by a panel of experts and influencers in Blockchain, financial inclusion and preservation of the environment. At the end of the campaign, the institutions nominated for the best videos will receive the Fundação Celo awards in the form of a donation.
For FlowBTC, the partnership with Celo establishes the broker's mission in developing and presenting solutions aimed at social inclusion and sustainability through cryptocurrencies.
"Cryptocurrencies were born to decentralize financial services and have the potential to promote inclusion and unbank," said FlowBTC co-founder Marcelo Miranda.
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