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Stake2Care

Stake2Care enables supporters to direct Ethereum staking rewards to Médecins Sans Frontières’ emergency fund, offering an additional way to support rapid medical responses to humanitarian crises.

3.44 stETH staking rewards generated in 2025 for MSF’s emergency fund

Impact finance · Global

Institutional context

Médecins Sans Frontières (MSF) provides independent medical assistance to people affected by conflict, epidemics, disasters, and exclusion from healthcare. MSF Switzerland introduced Stake2Care in 2024 to engage cryptocurrency holders as an additional donor community. Contributions support its emergency fund, which enables medical teams to respond quickly to crises without waiting for funding tied to a particular emergency.

The initiative was developed with the support of and blockchain expertise from Arab Bank Switzerland, and received a development grant through Lido’s ecosystem grants program.

System design

The original model uses Lido, a service that pools ETH for Ethereum staking. Staking involves committing ETH to help secure the Ethereum network and receiving rewards in return.

Supporters can contribute ETH or stETH, which represents ETH already being staked through Lido. A smart contract then directs the associated staking rewards to MSF’s emergency fund. Smart contracts are programs on Ethereum that can carry out agreed actions, such as transferring funds, when specified conditions are met. Supporters receive mstETH, a digital token representing their position in the program, which can be exchanged for stETH when they withdraw.

In 2026, MSF expanded the program to support USDC and USDT, stablecoins designed to maintain a value close to the US dollar. This stablecoin model still uses smart contracts on Ethereum, but generates returns differently from the original staking model.

Instead of earning staking rewards for helping to secure the network, the stablecoins are supplied to lending pools, where borrowers provide collateral and pay interest to access the funds. That interest generates the returns which are directed to MSF. The program uses Morpho for these lending markets, with the pools managed by Steakhouse Financial.

Ethereum’s role

Ethereum provides the infrastructure for staking and for the smart contracts that manage deposits, withdrawals, and the transfer of rewards to MSF. Because these transactions and contracts are publicly recorded, supporters and MSF can independently review how funds move without relying solely on the program’s own website.

MSF remains responsible for donor checks, accounting, conversion into conventional currency, and decisions about how its emergency fund is used.

Status and milestones

  1. 24 February 2026

    MSF announced an expansion to USDC and USDT, extending the program beyond its original staking model.

  2. 3 February 2026

    MSF reported that Stake2Care generated 3.44 stETH in staking rewards during 2025, allocated to its emergency fund.

  3. 26 September 2024

    MSF Switzerland publicly announced Stake2Care as an additional way for cryptocurrency holders to support its emergency fund.

Implementation considerations

Organizations considering a similar model would need clear arrangements for asset custody, due diligence, accounting, tax, regulatory compliance, and the governance of the underlying smart contracts.

Returns can vary over time, and the use of liquid-staking tokens introduces additional technology, liquidity, and market risks that institutions would need to assess.

Sources