Funds

Government favors natural family planning over contraception in key health funding #Catholic New 2027 guidelines by the U.S. Department of Health and Human Services (HHS) will ban key federal abortion funding while favoring fertility education and natural family planning.The April 3 “2027 Notice of Funding Opportunity” for Title X, the federal family planning grant program, bans funds from being used “in programs where abortion is a method of family planning.”The move came days after the Trump administration released the fifth and final year of grant funding to Planned Parenthood under Title X, a decision that garnered criticism throughout the pro-life movement. The White House cited legal challenges for the controversial decision to continue the funding.“The administration has issued the fifth and final year of Title X grants that were locked in place during the Biden presidency,” the White House told EWTN News in a statement. “The administration faced significant legal challenges in stopping any of these dollars from going out.”Previous Republican administrations, including that of Trump’s first term, also banned abortion funding via Title X. What makes this year’s criteria unique is that it encourages fertility education in place of contraception.The notice highlighted “fertility-awareness-based methods” or “natural family planning,” a method encouraged by the Catholic Church that involves tracking a woman’s biological markers to determine when ovulation occurs.The administration also teased a new pro-family grant that will be announced soon.“HHS will soon be releasing a new Title X funding opportunity for the next five-year funding cycle that prioritizes life and promotes the pro-family agenda,” the White House statement read.The notice also promoted “body literacy” on fertility-related conditions, such as “education on menstrual cycle physiology, hormonal health, male and female fertility awareness, and early indicators of reproductive disorders such as endometriosis, polycystic ovary syndrome (PCOS), thyroid dysfunction, metabolic disorders, and other conditions that often first emerge in adolescence.”An estimated 1 in 10 women have endometriosis; 1 in 8 women develop a thyroid disorder; and roughly 1 in 10 have PCOS — all conditions that can negatively affect fertility and overall health.“For example, endometriosis often goes undiagnosed for years because symptoms such as severe menstrual pain or irregular bleeding are frequently normalized or minimized,” the HHS notice read.“Body literacy counseling helps patients recognize that these experiences are not ‘normal’ features” but instead “potential indicators of an underlying condition, prompting earlier discussion with providers, timely diagnosis, appropriate treatment, and improved long-term reproductive and overall health outcomes,” the notice continued.The 2027 plan is not prioritizing contraception funding; instead the government said that contraception is part of an overreliance on “pharmaceutical and surgical treatments.” The health department noted that fewer women than in previous years are using contraception (54% of reproductive-age women) and that “the most common reason women reported discontinuing use related to dissatisfaction was side effects.” For instance, hormonal contraception can cause depression in some patients, among other negative side effects.“This approach has failed to adequately address the root causes of the nation’s chronic disease burden, resulting in ongoing health challenges that affect fertility, pregnancy outcomes, and long-term health outcomes,” the notice read.HHS said it will focus instead on “underlying behavioral and lifestyle factors of health — such as nutrition, sleep, physical activity, stress management, and environmental factors.”The White House told EWTN News that “the administration remains committed to realigning the Title X program with the president’s pro-life and pro-family agenda going forward.”Michael New, an assistant professor of practice at the Busch School of Business at The Catholic University of America as well as a Charlotte Lozier Institute senior associate scholar, called the decrease in Planned Parenthood funding “a win for the pro-life movement,” though with a caveat.“Cutting funding to Planned Parenthood may not have a large impact on the incidence of abortion in the short term due the increasing prevalence of telehealth abortions,” New said.The professor also noted that “defunding contraception programs and supporting natural family planning is a win for pro-lifers.”“Since the Title X program started in 1970, the federal government has spent hundreds of millions of dollars, if not billions of dollars, into promoting contraception,” New said. “This money has been poorly spent. Many places that distribute contraception also perform abortions, so some of this money indirectly funds abortion.”“Many Catholics do not want their tax dollars spent on programs, such as contraception programs, they find morally objectionable,” New continued. “Even though many Americans support contraceptive use, pro-life Catholics would like the government to stay out of the issue: no funding, no mandates, no distribution. As such, defunding contraception programs has been a longtime policy goal for many pro-life Catholics.”“​​Natural family planning, when done correctly, has a strong track record of success,” New said. “However, it has been marginalized in many secular public health circles. The fact that HHS is promoting natural family planning will give NFP more visibility and credibility.”
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Government favors natural family planning over contraception in key health funding #Catholic New 2027 guidelines by the U.S. Department of Health and Human Services (HHS) will ban key federal abortion funding while favoring fertility education and natural family planning.The April 3 “2027 Notice of Funding Opportunity” for Title X, the federal family planning grant program, bans funds from being used “in programs where abortion is a method of family planning.”The move came days after the Trump administration released the fifth and final year of grant funding to Planned Parenthood under Title X, a decision that garnered criticism throughout the pro-life movement. The White House cited legal challenges for the controversial decision to continue the funding.“The administration has issued the fifth and final year of Title X grants that were locked in place during the Biden presidency,” the White House told EWTN News in a statement. “The administration faced significant legal challenges in stopping any of these dollars from going out.”Previous Republican administrations, including that of Trump’s first term, also banned abortion funding via Title X. What makes this year’s criteria unique is that it encourages fertility education in place of contraception.The notice highlighted “fertility-awareness-based methods” or “natural family planning,” a method encouraged by the Catholic Church that involves tracking a woman’s biological markers to determine when ovulation occurs.The administration also teased a new pro-family grant that will be announced soon.“HHS will soon be releasing a new Title X funding opportunity for the next five-year funding cycle that prioritizes life and promotes the pro-family agenda,” the White House statement read.The notice also promoted “body literacy” on fertility-related conditions, such as “education on menstrual cycle physiology, hormonal health, male and female fertility awareness, and early indicators of reproductive disorders such as endometriosis, polycystic ovary syndrome (PCOS), thyroid dysfunction, metabolic disorders, and other conditions that often first emerge in adolescence.”An estimated 1 in 10 women have endometriosis; 1 in 8 women develop a thyroid disorder; and roughly 1 in 10 have PCOS — all conditions that can negatively affect fertility and overall health.“For example, endometriosis often goes undiagnosed for years because symptoms such as severe menstrual pain or irregular bleeding are frequently normalized or minimized,” the HHS notice read.“Body literacy counseling helps patients recognize that these experiences are not ‘normal’ features” but instead “potential indicators of an underlying condition, prompting earlier discussion with providers, timely diagnosis, appropriate treatment, and improved long-term reproductive and overall health outcomes,” the notice continued.The 2027 plan is not prioritizing contraception funding; instead the government said that contraception is part of an overreliance on “pharmaceutical and surgical treatments.” The health department noted that fewer women than in previous years are using contraception (54% of reproductive-age women) and that “the most common reason women reported discontinuing use related to dissatisfaction was side effects.” For instance, hormonal contraception can cause depression in some patients, among other negative side effects.“This approach has failed to adequately address the root causes of the nation’s chronic disease burden, resulting in ongoing health challenges that affect fertility, pregnancy outcomes, and long-term health outcomes,” the notice read.HHS said it will focus instead on “underlying behavioral and lifestyle factors of health — such as nutrition, sleep, physical activity, stress management, and environmental factors.”The White House told EWTN News that “the administration remains committed to realigning the Title X program with the president’s pro-life and pro-family agenda going forward.”Michael New, an assistant professor of practice at the Busch School of Business at The Catholic University of America as well as a Charlotte Lozier Institute senior associate scholar, called the decrease in Planned Parenthood funding “a win for the pro-life movement,” though with a caveat.“Cutting funding to Planned Parenthood may not have a large impact on the incidence of abortion in the short term due the increasing prevalence of telehealth abortions,” New said.The professor also noted that “defunding contraception programs and supporting natural family planning is a win for pro-lifers.”“Since the Title X program started in 1970, the federal government has spent hundreds of millions of dollars, if not billions of dollars, into promoting contraception,” New said. “This money has been poorly spent. Many places that distribute contraception also perform abortions, so some of this money indirectly funds abortion.”“Many Catholics do not want their tax dollars spent on programs, such as contraception programs, they find morally objectionable,” New continued. “Even though many Americans support contraceptive use, pro-life Catholics would like the government to stay out of the issue: no funding, no mandates, no distribution. As such, defunding contraception programs has been a longtime policy goal for many pro-life Catholics.”“​​Natural family planning, when done correctly, has a strong track record of success,” New said. “However, it has been marginalized in many secular public health circles. The fact that HHS is promoting natural family planning will give NFP more visibility and credibility.”

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New directives by the U.S. Department of Health and Human Services ban Title X abortion funding while favoring fertility education and “body literacy.”

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10,000 Austrian students petition to end mandatory fees funding abortions #Catholic More than 10,000 Austrian university students have signed a petition demanding that the Austrian National Union of Students (ÖH, by its German acronym) abolish its so-called “Repro Fund,” a program that uses mandatory student fees to finance abortions.The petition, organized by ProLife Europe in partnership with CitizenGo, was formally submitted on March 11 to the authorities responsible for administering the fund. Titled “No Student Funds for Killing Human Beings,” the initiative was launched after the ÖH introduced financial assistance for abortions through the Repro Fund.According to the ÖH’s published budget for the 2025-2026 academic year, 18,000 euros have been allocated to cover abortion costs, with plans outlined in the student union’s coalition agreement to expand the fund in the coming years.Petition organizers argue that the policy forces students to subsidize abortions regardless of their moral convictions.“The targeted financing of abortions is incompatible with the freedom of conscience of many students and represents an ethically absolutely indefensible decision,” the petition states.Mandatory student feesIn Austria, all university students must pay a mandatory contribution to the ÖH as part of their semester enrollment.If a student fails to pay the fee, enrollment cannot be completed. This means the student loses official student status for that semester and is barred from attending courses or taking examinations. Nonpayment also results in the loss of student accident insurance, which is normally included as part of enrollment.Because the ÖH contribution is embedded in the legal structure of university registration, students cannot opt out of supporting the organization or its programs, regardless of whether they agree with its political positions or spending decisions.Pro-life petitioners say this system effectively compels students to fund abortions through their mandatory contributions.Student mobilization exceeds expectationsMaria Czernin, president of ProLife Europe, told EWTN News that the petition’s response exceeded expectations in Austria, where public mobilization on civil issues is often limited.“For a three-month petition in Austria, this is a very strong result,” Czernin said. “People here tend to be more reserved in public campaigns, so reaching more than 10,000 signatures is significant.”Organizers initially hoped to gather around 8,000 signatures, she said, but the campaign surpassed that target before the petition closed.The ÖH, Austria’s national student union, is elected democratically by university students. As a result, the Repro Fund was introduced through decisions taken by the organization’s governing coalition.During campus outreach efforts linked to the petition, ProLife Europe volunteers spoke with students who did not identify as pro-life but nevertheless objected to the use of mandatory student fees to fund abortions.“We encountered students who were not pro-life, but they still felt that their money should not be used for this,” Czernin said. “That says a lot about how controversial this program is.”She added that the program remains relatively unknown across many Austrian universities. Organizers believe that if awareness of the funds were more widespread, opposition would grow further.A message to policymakersCzernin said the petition is also intended as a signal to Eva-Maria Holzleitner, Austrian minister for women, science, and research, whose ministry oversees higher education policy.“I hope this petition reaches Minister Holzleitner as a strong sign from students,” she said. “It shows that many students clearly stand against this cooperation and against using their mandatory contributions in this way.”Beyond the immediate funding issue, Czernin explained that abortion should not be promoted as a solution for students facing academic or financial challenges.“There is no evidence that abortion helps women finish their studies,” she said. “But there is substantial research indicating that abortion can negatively affect women’s mental health.”She added that many women have successfully completed their studies while continuing their pregnancies, explaining that support structures for student mothers would be a more constructive response to the pressures some students face.Austria’s abortion landscapeIn Austria, abortion is permitted during the first three months of pregnancy.The law does not formally declare abortion a legal right. Instead, it states that the procedure is not punishable if it is performed by a physician within the first trimester following a prior medical consultation.There is no mandatory waiting period and no requirement for counseling from an independent advisory service. The consultation requirement is limited to a discussion with a doctor before the procedure.Abortion services are generally not covered by Austria’s public health insurance system and must typically be paid for privately. Because of this, women are not required to be registered residents of Austria or enrolled in Austrian health insurance to obtain an abortion in the country.Abortions are also not subject to mandatory reporting requirements and personal information about women undergoing the procedure is not shared with authorities.
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10,000 Austrian students petition to end mandatory fees funding abortions #Catholic More than 10,000 Austrian university students have signed a petition demanding that the Austrian National Union of Students (ÖH, by its German acronym) abolish its so-called “Repro Fund,” a program that uses mandatory student fees to finance abortions.The petition, organized by ProLife Europe in partnership with CitizenGo, was formally submitted on March 11 to the authorities responsible for administering the fund. Titled “No Student Funds for Killing Human Beings,” the initiative was launched after the ÖH introduced financial assistance for abortions through the Repro Fund.According to the ÖH’s published budget for the 2025-2026 academic year, 18,000 euros have been allocated to cover abortion costs, with plans outlined in the student union’s coalition agreement to expand the fund in the coming years.Petition organizers argue that the policy forces students to subsidize abortions regardless of their moral convictions.“The targeted financing of abortions is incompatible with the freedom of conscience of many students and represents an ethically absolutely indefensible decision,” the petition states.Mandatory student feesIn Austria, all university students must pay a mandatory contribution to the ÖH as part of their semester enrollment.If a student fails to pay the fee, enrollment cannot be completed. This means the student loses official student status for that semester and is barred from attending courses or taking examinations. Nonpayment also results in the loss of student accident insurance, which is normally included as part of enrollment.Because the ÖH contribution is embedded in the legal structure of university registration, students cannot opt out of supporting the organization or its programs, regardless of whether they agree with its political positions or spending decisions.Pro-life petitioners say this system effectively compels students to fund abortions through their mandatory contributions.Student mobilization exceeds expectationsMaria Czernin, president of ProLife Europe, told EWTN News that the petition’s response exceeded expectations in Austria, where public mobilization on civil issues is often limited.“For a three-month petition in Austria, this is a very strong result,” Czernin said. “People here tend to be more reserved in public campaigns, so reaching more than 10,000 signatures is significant.”Organizers initially hoped to gather around 8,000 signatures, she said, but the campaign surpassed that target before the petition closed.The ÖH, Austria’s national student union, is elected democratically by university students. As a result, the Repro Fund was introduced through decisions taken by the organization’s governing coalition.During campus outreach efforts linked to the petition, ProLife Europe volunteers spoke with students who did not identify as pro-life but nevertheless objected to the use of mandatory student fees to fund abortions.“We encountered students who were not pro-life, but they still felt that their money should not be used for this,” Czernin said. “That says a lot about how controversial this program is.”She added that the program remains relatively unknown across many Austrian universities. Organizers believe that if awareness of the funds were more widespread, opposition would grow further.A message to policymakersCzernin said the petition is also intended as a signal to Eva-Maria Holzleitner, Austrian minister for women, science, and research, whose ministry oversees higher education policy.“I hope this petition reaches Minister Holzleitner as a strong sign from students,” she said. “It shows that many students clearly stand against this cooperation and against using their mandatory contributions in this way.”Beyond the immediate funding issue, Czernin explained that abortion should not be promoted as a solution for students facing academic or financial challenges.“There is no evidence that abortion helps women finish their studies,” she said. “But there is substantial research indicating that abortion can negatively affect women’s mental health.”She added that many women have successfully completed their studies while continuing their pregnancies, explaining that support structures for student mothers would be a more constructive response to the pressures some students face.Austria’s abortion landscapeIn Austria, abortion is permitted during the first three months of pregnancy.The law does not formally declare abortion a legal right. Instead, it states that the procedure is not punishable if it is performed by a physician within the first trimester following a prior medical consultation.There is no mandatory waiting period and no requirement for counseling from an independent advisory service. The consultation requirement is limited to a discussion with a doctor before the procedure.Abortion services are generally not covered by Austria’s public health insurance system and must typically be paid for privately. Because of this, women are not required to be registered residents of Austria or enrolled in Austrian health insurance to obtain an abortion in the country.Abortions are also not subject to mandatory reporting requirements and personal information about women undergoing the procedure is not shared with authorities.

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Pro-life students are demonstrating against the “Repro Fund,” a program that uses mandatory student fees to finance abortions.

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Catholic digital assets company about to mint its first stablecoin #Catholic On March 15, a Catholic digital assets company known as Crescite Innovation Corporation will mint its first stablecoin, called Catholic USD.Stablecoins such as Catholic USD are a type of digital asset that is backed by and will have a 1-to-1 value equivalence with the U.S. dollar (and are not to be confused with cryptocurrencies like bitcoin).Catholic USDs can be used to make purchases from or donations to Catholic organizations the same way they would with any other payment method stored in smartphone wallets.Donations and other financial transactions can take place all over the world and will be nearly instantaneous, fee-free, and secure, thanks to blockchain technology, Eddie Cullen, co-founder of Crescite, told EWTN News.With blockchain technology, which has enabled the development of unregulated cryptocurrencies such as bitcoin and regulated digital assets such as stablecoins, traditional banks are no longer required to transfer or store money because all transactions are transparent and verifiable through the blockchain, which securely links together “blocks” of digital records.“Traditional banks are like Blockbuster video, and digital assets are like the streaming services we all use today,” Cullen said.“People will no longer need traditional banks, thanks to this new technology,” he continued.Cullen and his co-founder, Karl Kilb III, started Crescite “because we love the Church,” Cullen said. “We want Catholics to be at the forefront of this new technology, and we’re using it to enable greater access to resources for people and to do good.”“The only difference between us and banks is that they take your money and leverage it to make a profit,” Cullen said. “What we’re doing is we’re taking that leverage, and we’re giving it away to Catholic institutions and causes.”“We created Crescite to be at the intersection of faith and technology, using innovation to help those in need, and society as a whole,” Kilb said. “The Catholic community is global, with numerous organizations, projects, and causes that need sustainable, transparent funding, and we are leveraging blockchain technology to build such an ecosystem.”When a person buys Catholic USD, Crescite will invest that money in vehicles including U.S. Treasury bonds and will put 100% of that yield into a charity fund known as the Catholic Global Mercy Trust.The trust will fund Catholic poverty relief efforts, hospitals, schools, and other causes all over the world.“When we look at our work, it’s really a Catholic digital asset ecosystem,” Cullen said. “We have our stablecoin, and we are going to build upon that.”The money Crescite takes in through the sale of Catholic USD will be custodied, or held, in a digital wallet by a financial technology company known as BitGo, which in January completed its initial public offering (IPO) and began trading on the New York Stock Exchange. It is also chartered under U.S. law and authorized by the Office of the Comptroller of the Currency. BitGo is “the platform that’s issuing the stablecoin,” Cullen said. It and Crescite will have no intermingled investments.The funds Crescite holds are also insured.“Crescite” means to increase or grow in Latin. Cullen said he and Kilb, who co-own the company and founded it together in 2021, chose the name after reflecting on the effects of God’s touch on man-made things, as portrayed in the image of God’s hand touching Adam’s in Michaelangelo’s famous painting on the ceiling of the Sistine Chapel.Cullen said the name also refers to Genesis 1:28, when God tells Adam to “Be fruitful (increase) and multiply.”Bitcoin, the first cryptocurrencyThe first cryptocurrency, which is very different from the stablecoin Crescite is issuing, was bitcoin, which came out in 2009 and whose inventor or inventors, known as Satoshi Nakamoto, is/are still unknown.Bitcoin emerged as “pushback” to the 2008 financial crisis, according to The Catholic University of America Busch School of Business Professor Kevin May, who told EWTN News that consumers wanted something more “sound and reliable” than our current financial system after the crisis.Bitcoin is decentralized and is the only true “open source” cryptocurrency, according to May.Bitcoin’s inventors no longer had “trust in the current financial system,” where “the banks and bankers took bets; when they were right they privatized all the gains, and when they were wrong, they got bailed out and rebought their own shares,” May said. “Hardly any of them got in trouble” while the financial markets and consumers paid for their actions.The value of bitcoin has gone from several pennies at its initial launch to a high of 6,000 in October 2025. Currently, one bitcoin is valued at about ,000.Exchanges now exist where people can buy and sell bitcoin. There are even bitcoin-linked credit cards.Bitcoin, however, is a true cryptocurrency in that it is not insured or backed by any currency, and it is not regulated by the federal government, meaning it could collapse at any moment and investors could lose their money.A benefit of a cryptocurrency like bitcoin, according to May, is that it can “bank the unbanked, especially in societies where you cannot trust the leadership.”He used the example of a coffee farmer in Uganda who could trade in bitcoin and essentially have “his own bank on his cellphone,” without having to deal with a corrupt or inefficient system.The difference between ‘cryptocurrency’ and ‘digital assets’Digital assets like Catholic USD and cryptocurrencies such as bitcoin are alternatives to traditional financial institutions and government-backed currency made possible by blockchain technology.However, the terms “digital assets” and “cryptocurrency” mean different things: Digital assets refer to stablecoins as well as tokenized securities, commodities, and other digital representations of real-world assets that do not imply the unregulated, speculative trading or volatility inherent with bitcoin.Cullen explained that this is a major difference between bitcoin and stablecoins such as Catholic USD, which is actually backed by the U.S. dollar and will be regulated by the recently passed GENIUS Act, which is expected to increase the growth of and trust in stablecoins through clear regulatory rules.Other existing stablecoins include USD1, which, like Catholic USD, is also a U.S. dollar-pegged stablecoin (designed to maintain a 1-to-1 value with the U.S. dollar).USD1 was launched in March 2025 by World Liberty Financial, a decentralized finance (DeFi) platform and cryptocurrency venture closely associated with President Donald Trump and his family, though disclaimers emphasize that the Trump family are not officers or directors and that the cryptocurrency is not politically affiliated or endorsed.A company called Tether Unlimited issued a stablecoin, USDT, which is the longest-running and largest U.S. dollar-pegged stablecoin, launched in 2014 and with a market cap around 4 billion (as of early 2026). It holds roughly 60%-70% of the total stablecoin market share with 534 million users as of early this year.The GENIUS ActPassed with bipartisan support and signed into law by Trump in July 2025, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act establishes a clear, regulatory framework that legitimizes payment stablecoins and digital asset infrastructure.It aims to preserve U.S. dollar leadership globally while allowing responsible private-sector innovation under defined guardrails.Under the act, qualified nonbank entities may issue payment stablecoins under federal or state supervision, while banks and affiliates may also participate. This dual pathway is intended to foster competition, reduce concentration risk, and avoid stifling innovation.Critics note the GENIUS Act does not fully address illicit finance risks in decentralized systems such as bitcoin, however.
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Catholic digital assets company about to mint its first stablecoin #Catholic On March 15, a Catholic digital assets company known as Crescite Innovation Corporation will mint its first stablecoin, called Catholic USD.Stablecoins such as Catholic USD are a type of digital asset that is backed by and will have a 1-to-1 value equivalence with the U.S. dollar (and are not to be confused with cryptocurrencies like bitcoin).Catholic USDs can be used to make purchases from or donations to Catholic organizations the same way they would with any other payment method stored in smartphone wallets.Donations and other financial transactions can take place all over the world and will be nearly instantaneous, fee-free, and secure, thanks to blockchain technology, Eddie Cullen, co-founder of Crescite, told EWTN News.With blockchain technology, which has enabled the development of unregulated cryptocurrencies such as bitcoin and regulated digital assets such as stablecoins, traditional banks are no longer required to transfer or store money because all transactions are transparent and verifiable through the blockchain, which securely links together “blocks” of digital records.“Traditional banks are like Blockbuster video, and digital assets are like the streaming services we all use today,” Cullen said.“People will no longer need traditional banks, thanks to this new technology,” he continued.Cullen and his co-founder, Karl Kilb III, started Crescite “because we love the Church,” Cullen said. “We want Catholics to be at the forefront of this new technology, and we’re using it to enable greater access to resources for people and to do good.”“The only difference between us and banks is that they take your money and leverage it to make a profit,” Cullen said. “What we’re doing is we’re taking that leverage, and we’re giving it away to Catholic institutions and causes.”“We created Crescite to be at the intersection of faith and technology, using innovation to help those in need, and society as a whole,” Kilb said. “The Catholic community is global, with numerous organizations, projects, and causes that need sustainable, transparent funding, and we are leveraging blockchain technology to build such an ecosystem.”When a person buys Catholic USD, Crescite will invest that money in vehicles including U.S. Treasury bonds and will put 100% of that yield into a charity fund known as the Catholic Global Mercy Trust.The trust will fund Catholic poverty relief efforts, hospitals, schools, and other causes all over the world.“When we look at our work, it’s really a Catholic digital asset ecosystem,” Cullen said. “We have our stablecoin, and we are going to build upon that.”The money Crescite takes in through the sale of Catholic USD will be custodied, or held, in a digital wallet by a financial technology company known as BitGo, which in January completed its initial public offering (IPO) and began trading on the New York Stock Exchange. It is also chartered under U.S. law and authorized by the Office of the Comptroller of the Currency. BitGo is “the platform that’s issuing the stablecoin,” Cullen said. It and Crescite will have no intermingled investments.The funds Crescite holds are also insured.“Crescite” means to increase or grow in Latin. Cullen said he and Kilb, who co-own the company and founded it together in 2021, chose the name after reflecting on the effects of God’s touch on man-made things, as portrayed in the image of God’s hand touching Adam’s in Michaelangelo’s famous painting on the ceiling of the Sistine Chapel.Cullen said the name also refers to Genesis 1:28, when God tells Adam to “Be fruitful (increase) and multiply.”Bitcoin, the first cryptocurrencyThe first cryptocurrency, which is very different from the stablecoin Crescite is issuing, was bitcoin, which came out in 2009 and whose inventor or inventors, known as Satoshi Nakamoto, is/are still unknown.Bitcoin emerged as “pushback” to the 2008 financial crisis, according to The Catholic University of America Busch School of Business Professor Kevin May, who told EWTN News that consumers wanted something more “sound and reliable” than our current financial system after the crisis.Bitcoin is decentralized and is the only true “open source” cryptocurrency, according to May.Bitcoin’s inventors no longer had “trust in the current financial system,” where “the banks and bankers took bets; when they were right they privatized all the gains, and when they were wrong, they got bailed out and rebought their own shares,” May said. “Hardly any of them got in trouble” while the financial markets and consumers paid for their actions.The value of bitcoin has gone from several pennies at its initial launch to a high of $126,000 in October 2025. Currently, one bitcoin is valued at about $70,000.Exchanges now exist where people can buy and sell bitcoin. There are even bitcoin-linked credit cards.Bitcoin, however, is a true cryptocurrency in that it is not insured or backed by any currency, and it is not regulated by the federal government, meaning it could collapse at any moment and investors could lose their money.A benefit of a cryptocurrency like bitcoin, according to May, is that it can “bank the unbanked, especially in societies where you cannot trust the leadership.”He used the example of a coffee farmer in Uganda who could trade in bitcoin and essentially have “his own bank on his cellphone,” without having to deal with a corrupt or inefficient system.The difference between ‘cryptocurrency’ and ‘digital assets’Digital assets like Catholic USD and cryptocurrencies such as bitcoin are alternatives to traditional financial institutions and government-backed currency made possible by blockchain technology.However, the terms “digital assets” and “cryptocurrency” mean different things: Digital assets refer to stablecoins as well as tokenized securities, commodities, and other digital representations of real-world assets that do not imply the unregulated, speculative trading or volatility inherent with bitcoin.Cullen explained that this is a major difference between bitcoin and stablecoins such as Catholic USD, which is actually backed by the U.S. dollar and will be regulated by the recently passed GENIUS Act, which is expected to increase the growth of and trust in stablecoins through clear regulatory rules.Other existing stablecoins include USD1, which, like Catholic USD, is also a U.S. dollar-pegged stablecoin (designed to maintain a 1-to-1 value with the U.S. dollar).USD1 was launched in March 2025 by World Liberty Financial, a decentralized finance (DeFi) platform and cryptocurrency venture closely associated with President Donald Trump and his family, though disclaimers emphasize that the Trump family are not officers or directors and that the cryptocurrency is not politically affiliated or endorsed.A company called Tether Unlimited issued a stablecoin, USDT, which is the longest-running and largest U.S. dollar-pegged stablecoin, launched in 2014 and with a market cap around $184 billion (as of early 2026). It holds roughly 60%-70% of the total stablecoin market share with 534 million users as of early this year.The GENIUS ActPassed with bipartisan support and signed into law by Trump in July 2025, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act establishes a clear, regulatory framework that legitimizes payment stablecoins and digital asset infrastructure.It aims to preserve U.S. dollar leadership globally while allowing responsible private-sector innovation under defined guardrails.Under the act, qualified nonbank entities may issue payment stablecoins under federal or state supervision, while banks and affiliates may also participate. This dual pathway is intended to foster competition, reduce concentration risk, and avoid stifling innovation.Critics note the GENIUS Act does not fully address illicit finance risks in decentralized systems such as bitcoin, however.

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Catholic entrepreneurs Eddie Cullen and Karl Kilb want to use new financial technologies to benefit the Catholic Church and its charitable work.

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