Maelstrom Fund, Jackie Robinson Foundation, and World of Money have partnered to create the Our Wallet program, providing teenagers from BIPOC backgrounds with financial literacy education.
Our Wallet
Our Wallet is a financial literacy program providing tools and resources for BIPOC youth and future leaders.
AfroTech reported that the program was birthed from a partnership between the Maelstrom Fund, the Jackie Robinson Foundation, and World of Money.
The Maelstrom Fund is an early-stage investment fund run by the family office of Black entrepreneur Arthur Hayes, the founder of the cryptocurrency exchange BitMEX.
“Less than a quarter of high school students in the US have access to personal finance courses, which means that 75% will graduate in 2023 without the education they need to be financially literate,” Arthur Hayes, Maelstrom’s chief information officer, told AfroTech.
“Our goal is to connect with youth at the fundamental ages of 13-18 and offer relatable and engaging finance programming that will serve them throughout adulthood.”
Early success
The program’s pilot was first introduced in December 2022 and has now progressed to include 13 middle school students participating in its financial wellness program this summer.
In April, Our Wallet hosted New York students for a three-day pilot seminar to explore the crypto market.
Students networked with professionals while igniting their creative passions and exploring potential business opportunities.
After learning about the history of money, investments, cryptocurrency and business development, students were also offered the opportunity to win $1,000 in crypto-based on their Instagram profiles, according to AfroTech.
“I’m excited to see where these students take this knowledge and thrilled to see them build their financial empires through the Our Wallet building blocks.”
So far, students are finding their experience through the Our Wallet program transformative.
According to data shared with their team, 81% of participants described their experience as engaging and informative, while 72% felt more confident about their investment journey.
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