EthicHub and Bybit have announced a new collaboration aimed at boosting financial inclusion for small coffee farmers through the application of blockchain technology. This partnership, facilitated by The Blockchain for Good Alliance (BGA), features an initial investment of one million dollars from Bybit, one of the leading cryptocurrency exchanges globally. The initiative aims to expand access to credit for these producers, who have traditionally faced significant obstacles when trying to access the traditional financial system.
EthicHub has been at the forefront of funding small coffee farmers through its innovative blockchain-based platform. Bybit’s involvement in this project represents a crucial advancement in the fight for improved financial inclusion. Since the establishment of the BGA in April 2024, Bybit has positioned itself as a leader in using blockchain technology to address real-world issues. EthicHub embodies this vision by providing resources to small producers through technological innovation.
Bybit’s investment will be directed to an exclusive fund known as the Bybit Pool, which will focus on strengthening registered credit originators on EthicHub. This structure will allow coffee farmers to receive fair financing, with EthicHub committed to offering more favorable credit terms, eliminating the need for traditional intermediaries.
The Bybit Pool will operate under transparent management through blockchain technology, ensuring that small coffee farmers have access to credit without the restrictions of the usual banking system. Additionally, Bybit will have the opportunity to earn an annual return of 8% over a period of 15 months, while EthicHub will provide quarterly reports on the fund’s performance.
Helen Liu, Chief Operating Officer of Bybit, highlighted the transformative impact of blockchain technology by noting that it “has the power to unlock new financial opportunities for those who have historically been excluded from traditional banking systems.” With this investment, Bybit is not only seeking profitability but is also committed to creating a positive impact in the world through innovation.
The BGA plays an essential role in this collaboration, acting as a bridge between Bybit and EthicHub to ensure effective use of funds for the benefit of small producers. This alliance illustrates how blockchain technology can significantly improve access to financing in sectors that have historically been marginalized.
Through this agreement, EthicHub, Bybit, and the BGA reaffirm their commitment to developing financial solutions that expand access to resources for those in disadvantaged conditions, signaling a step towards a more inclusive and efficient financial model.
Source: MiMub in Spanish
