Mercy Corps Ventures has launched the fourth cohort of the Crypto for Good Fund (C4G) round to drive global financial inclusion and climate resilience in emerging markets.
The Crypto For Good Fund which is managed by Mercy Corps Ventures (MCV), provides equity-free funding to launch and test innovative, impactful web3 products in emerging markets, with a focus on financial inclusion and climate resilience.
According to a statement from the company, almost 20 web3 pilots have been launched to date. The company seeks to continue pushing the frontiers of innovation to identify initiatives in the cryptoverse with the highest potential for impact.
Since the first cohort in 2022, MCV has screened over 1,000 proposals, launched over 15 real-world crypto use cases, and deployed over $3M in funding, impacting the lives of more than 40,000 people.
Web3 technologies provide a powerful new set of tools for evolving the financial services landscape. Startups are developing unique value propositions for emerging market users across a variety of sectors.
Today, stablecoins are the most widely used type of crypto asset, and with several innovative solutions leveraging stablecoins to address the needs of underserved populations within a wider startup portfolio. However, while stablecoin-powered solutions hold great promise for unlocking financial and economic inclusion in emerging markets, much of this potential has yet to be realized — especially for underbanked households.
Moreover, 3.3 billion people are at risk and highly vulnerable to climate change. By 2030, climate change is expected to push 130 million people into poverty, and emerging markets are expected to bear 75–80% of the costs, despite having the smallest climate footprints. Underrepresented groups within these markets, including youth, smallholder farmers, informal merchants, gig workers, displaced populations, and women, are disproportionately impacted.
This edition of the Fund will be focused on the next frontier of crypto innovation. The fund is looking for builders pushing the boundaries to improve the lives and livelihoods of underserved users across emerging markets.
Priority themes include, but are not limited to:
- Broader access
- Programmable money
- Locally-adapted solutions
- Humanitarian aid delivery
- ReFi / Climate innovation
The Fund will provide equity-free grants of up to $100,000 to 10 eligible startups. Alongside capital, MCV will also provide mentorship, impact measurement advisory, access to partnership opportunities, knowledge exchange, and brand exposure.
Deadline for applications: December 20, 2024