By
Godfrey Benjamin
April 16th, 2024
The collaboration not only supports traditional fundraising methods but also aligns with the changing digital ecosystem, challenges with governance, and the evolving nature of fundraising in the non-profit sector.
Just in time for the giving season, Crypto.com, a Singapore-based digital assets trading platform, that recently secured regulatory approval in the UK has inked a Memorandum of Understanding (MOU) with six major charities in Singapore to help facilitate the acceptance of donations in cryptocurrencies.
Crypto.com Empowering Charities Through Digital Innovation
The six charities involved in this groundbreaking partnership are CARE Singapore, Cycling Without Age Singapore, Dementia Singapore, Limitless, MINDS, and The Salvation Army Singapore.
This collaboration aims to enable these charities to safely and securely accept donations in digital assets, potentially expanding their donor pools and advancing their humanitarian causes. Trusted by over 80 million customers worldwide, Crypto.com, will handle the acceptance of digital assets and effortlessly convert them to fiat currency on behalf of these charities.
Chin Tah Ang, General Manager, Singapore, Crypto.com, expressed enthusiasm about the partnership, stating:
“As a company, we strongly believe in the potential of blockchain and AI technology to deliver innovative solutions that align with our mission and make a positive impact.”
Beyond facilitating digital donations, Crypto.com and the charities plan to explore collaborative projects involving Web3, GenAI, and blockchain technologies. These projects will address challenges faced by the non-profit sector, such as improving transparency in operations and enhancing cross-border payment processes.
Education and awareness campaigns are also on the cards, with Crypto.com and the charities promising to work together to educate the public about the transformational potential of AI and blockchain technology in transforming the global philanthropic industry.
The collaboration not only supports traditional fundraising methods but also aligns with the changing digital ecosystem, challenges with governance, and the evolving nature of fundraising in the non-profit sector.
The MOU signing event, conducted at The Salvation Army Fellowship Hall, was observed by Singapore Fintech Association President Shadab Taiyabi, officials from the six organizations, and Crypto.com. Notably, the event was a critical step toward harnessing Web3 technology to create a more efficient and effective philanthropic ecosystem in the future.
Building on Success: Strategic Alliances at Crypto.com
This partnership comes on the heels of Crypto.com’s strategic alliance with PayPal Holdings Inc (NASDAQ: PYPL) and Paxos, solidifying its global standing as the preferred exchange for the PayPal stablecoin PYUSD.
The collaboration builds on the existing relationship between PayPal and Crypto.com, allowing users to fund their Crypto.com Visa Cards through PayPal. The two companies plan to explore and introduce enhanced capabilities for topping up and facilitating commerce in the coming years.
In conclusion, Crypto.com’s commitment to social responsibility and its belief in the transformative power of Web3 technology position it as a trailblazer in the philanthropic sector. Through strategic partnerships and innovative solutions, Crypto.com and the six charities aim to pave the way for a more efficient and impactful future in the world of giving.