NGO Xchange is a for-profit corporation that is using blockchain to disrupt traditional nonprofit finance. Trading under the acronym “NGO”, the NGO Coin is a cryptocurrency pegged 1 to 1 on the USD that enables significant financial savings when accepting donations or transferring money across borders, and provides a transparent immutable ledger to satisfy donor compliance regulations. NGO Xchange’s platform will enable significant savings, increase program effectiveness, and usher in a new era of nonprofit finances.
Why NGO Xchange?
2.5-4% of gross revenue goes to financial transaction fees, including currency conversion fees and bank transaction fees.
Using the NGO Coin, financial fees when transferring funds between HQ and field offices and vendors are reduced from current high levels to .15%. Donations made to nonprofits are exempt from fees.
There is lack of transparency showing donors how funds are spent and complying with donor regulations
Utilizing smart contracts, NGO Coin creates transparent records and real-time funds traceability of donations, expenses, and contracts with suppliers, eliminating the possibility of fraud and simplifying donor/foundation compliance regulations.
Nonprofits waste a lot of time and take unacceptable risks in transferring money to field offices in conflict zones
The NGO Coin uses a distributed ledger providing instant and unobstructed transfer of funds between HQ and field offices to pay program expenses. This avoids local government corruption, risk to employees carrying large amounts of cash, and easy repatriation of funds.