Kathmandu, September 6, 2026 (Yes Punjab News)
India-born tech entrepreneur Sandeep Nailwal, co-founder of Polygon Labs, has launched a stablecoin-based donation campaign to support people affected by floods in Nepal and contribute to the Government of Nepal’s Prime Minister Disaster Relief Fund.
The campaign, launched through NepalRelief.org, allows people worldwide to donate in stablecoins. The contributions are converted into local currency before being channelled to the government’s relief fund.
As of 9:30 a.m. Sunday (Nepal time), the campaign had raised $173,202, equivalent to NPR 26.23 million, according to NepalRelief.org.
Nailwal, who was born in Uttarakhand’s Kumaon region, said blockchain technology could help move funds quickly to people affected by the disaster.
“Stablecoins work best when money has to move fast to people who need it,” Nailwal wrote on LinkedIn, explaining that the initiative is designed to ensure donations ultimately reach the Nepal government’s relief fund in local currency.
The campaign is powered by Polygon Labs’ Open Money Stack, Coinme and Cross River, a New Jersey-based bank involved in digital lending. Cross River has also confirmed its participation and urged people to contribute through NepalRelief.org.
Nailwal said his personal connection to the region was another motivation behind the initiative, citing the longstanding cultural, family and social ties between India and Nepal.
“India and Nepal have what we often call ‘Roti-Beti ka rishta’ — ties of family and shared life that run far deeper than a line on a map,” he said.
He also referred to Prime Minister Narendra Modi’s recent description of Nepal’s people as “brothers and sisters”, adding, “I want to do my small part to stand with them, and I hope you’ll join me.”
Although cryptocurrency transactions are illegal in Nepal, campaign organisers said they had worked with the Nepali government to secure approval for the initiative.
Bal Krishna Joshi, founder of US-based fintech company Xuno, helped connect the organisers with the Nepali government.
“A heartfelt thanks to the Government of Nepal for approving Cross River and Polygon Labs’ crypto campaign to support the people of Nepal and contribute to the Government of Nepal’s Prime Minister’s Disaster Relief Fund,” Joshi wrote.
He said the campaign enables global crypto donations that are ultimately settled in local currency and transferred to the government’s relief fund.
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