Mercy Corps Ventures (MCV) has announced the fourth round of its Crypto for Good Fund (C4G), a groundbreaking initiative aimed at driving global financial inclusion and climate resilience through blockchain technology in emerging markets. Building on the success of three previous rounds, C4G has already screened over 1,000 applications, deployed $3 million in funding, and positively impacted the lives of over 40,000 people across the Global South.
With nearly 20 web3 pilot projects launched, this latest round underscores MCV’s commitment to exploring the transformative potential of blockchain-enabled solutions. These pilots aim to demonstrate how crypto innovation can unlock scalable, real-world benefits for underserved populations in Africa, Latin America, Southeast Asia, and other emerging markets.
A Mission Rooted in Addressing Global Challenges
Globally, 1.4 billion adults remain unbanked, with women comprising nearly 60% of this demographic. This exclusion constrains opportunities for women, their families, and broader societal development. Additionally, climate change continues to pose existential risks to 3.3 billion people, disproportionately impacting underrepresented groups such as smallholder farmers, informal merchants, gig workers, and displaced populations.
MCV envisions web3 technologies as a catalyst for evolving the financial landscape, particularly in the Global South, where countries like Nigeria, Brazil, and India are leading the charge in grassroots crypto adoption. Stablecoins, for example, have emerged as a powerful tool to bridge financial gaps, but their full potential remains untapped, especially among underbanked households.
Key Themes for the Fourth Round
The latest edition of the C4G Fund seeks to back startups and organizations applying web3 and blockchain technologies to address pressing challenges in underserved communities. MCV has identified several priority themes:
- Broader Financial Access: Enabling more people to achieve financial freedom.
- Programmable Money: Leveraging smart contracts to create efficiencies.
- Locally Adapted Solutions: Tailoring web3 applications to specific regional needs.
- Humanitarian Aid Delivery: Enhancing support for the 299 million people globally in need of aid.
- ReFi/Climate Innovation: Aligning financial incentives with environmental restoration.
Equity-Free Grants and Strategic Support
MCV will award equity-free grants of up to $100,000 to 10 eligible startups. In addition to financial support, grantees will benefit from mentorship, impact measurement advisory, partnership opportunities, knowledge exchange, and increased brand exposure.
Applications are open to startups across Africa, Latin America, Southeast Asia, the Caribbean, the Middle East, Pacific Islands, and Western Balkans, with the deadline set for December 20, 2024.
Proven Success and Inspirational Case Studies
Since its inception in 2022, the C4G Fund has supported numerous impactful initiatives, including:
- Empowa: Using NFTs to finance climate-smart housing in Mozambique.
- Atlantis DAO: Building a decentralized token network for clean water access in India.
- Forest Carbon: Developing equitable carbon offset projects in Indonesia.
In 2023, the second round introduced projects like DIVA Donate, providing anticipatory cash transfers for climate shocks, and FarmStar, promoting regenerative agriculture through web3 loyalty tokens. The third round, launched in early 2024, continued this trajectory with projects like WEIA, which uses blockchain traceability to secure better pricing for Colombian smallholders, and Haraka, offering reputation-based microloans to women savings groups in Ghana.
A Call to Build for Impact
MCV’s Crypto for Good Fund exemplifies how blockchain technologies can catalyze social and economic progress in frontier markets. By prioritizing real-world applications that tackle financial exclusion and climate vulnerability, this initiative paves the way for a more equitable and resilient future.
Interested innovators can submit their pilot proposals now to join this transformative journey.
