EverGive, a new platform enabling donors to contribute to a central bitcoin reserve for long-term charitable funding, has launched.
As charities cite stable income and long-term financial security as consistent challenges, EverGive chose a Bitcoin reserve due to it being “the best performing asset class of the last decade”, with the goal of securing sustained financial support.
The group said it hopes this new model can replace the “give-spend-repeat” cycle of traditional charity.
With £1.3m already invested, the company hopes to grow the reserve to the equivalent of £10m by the end of 2025.
The product has been in beta testing for 12 months ahead of launch. Funds are stored with a regulated third-party Bitcoin custodian and every transaction is supported by blockchain traceability and dedicated cash reserve.
“The system for supporting much needed causes globally isn’t working and requires a radical change,” said Ismael Dainehine (pictured), chief executive at EverGive.
“All too often, vital services supporting those most in need are forced to rely on fluctuating, unpredictable funding that disappears almost as soon as it is given. Charities which do hold funds are just watching it deprecate in value over time, this is the problem EverGive solves.
“We want to change this by harnessing the long-term growth of Bitcoin, by building a growing reserve that secures funding for charities and communities creating legacies that last and the freedom for good to flourish in the long term.”
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