HomeNewsHumanitarian Aid Goes Digital: Red Cross Now Accepting Bitcoin, Ethereum, and Stablecoins

Humanitarian Aid Goes Digital: Red Cross Now Accepting Bitcoin, Ethereum, and Stablecoins

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  • Singapore Red Cross is now accepting donations in Bitcoin, Ethereum, Tether, and USD Coin via a partnership with Triple-A, a licensed crypto payment gateway.
  • Cryptocurrency donations will be immediately converted to fiat currency, ensuring readily accessible funds for the organization’s humanitarian initiatives.

With an eye toward the future, Singapore’s Red Cross has opened a new chapter in its fundraising endeavors by accepting cryptocurrency donations. As part of a strategic partnership with Triple-A, Singapore’s first crypto payment gateway licensed by the Monetary Authority of Singapore, the humanitarian organization now accepts Bitcoin, Ethereum, Tether, and USD Coin.

Venturing into the Future of Philanthropy

The introduction of this new method of giving signals the recognition of the growing significance of digital currencies in the global financial landscape. With an increasing number of tech-savvy donors seeking alternative ways to make a difference, the adoption of cryptocurrency donations appears to be an astute move for the Red Cross.

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As the Secretary General and CEO of Singapore Red Cross, Mr. Benjamin William, articulated,

“By accepting digital currencies, we open our doors to a new segment of donors who are tech-savvy and wish to make a difference through their digital assets.”

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It’s worth noting that all crypto donations will be swiftly converted into government-issued currency, or fiat, and settled via bank transfer within a single business day. This prompt conversion ensures that the received funds are immediately available to support the various humanitarian efforts that the Red Cross undertakes.

Growing Acceptance of Cryptocurrency Donations

This innovative method of giving is not solely restricted to the Red Cross. Other Singapore-based organizations like The Food Bank Singapore and Daughters of Tomorrow have also started accepting cryptocurrencies as donations. These initiatives are indicative of an emerging trend among charitable organizations to embrace digital assets as an efficient and globally accessible fundraising method.

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The addition of cryptocurrency as a viable donation method is expected to have a notable impact, particularly considering that the Singapore Red Cross received over $4.5 million in donations in 2022. With the new donation method now live on the Singapore Red Cross website, the organization looks forward to welcoming contributions from the ever-growing crypto-community around the globe. This venture into digital currencies not only taps into a new demographic of potential donors but also exemplifies the continuous evolution of philanthropy in the digital age.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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