Humanitarian aid organisation Singapore Red Cross announced it will now accept donations in the form of cryptocurrencies. Donors can contribute in Bitcoin, Ether, Tether and USD Coin.
The Singapore Red Cross recently announced that it will now accept donations in cryptocurrencies via a partnership with Triple-A.
In an effort to secure contributions from a whole new generation, the Singapore Red Cross entered into a partnership with Triple-A to enable the option of anonymous crypto donations. According to a press release, the organisation accepts Bitcoin, Ether, Tether and USD Coin.
The Singapore Red Cross explained:
‘Powered by Triple-A, payment is compatible with all wallets and provides locked-in exchange rates. You can pre-define an amount (in fiat) that you would like to give and the system will automatically do the conversion for you.”
Triple-A is the first crypto payment gateway licensed by the Monetary Authority of Singapore. The platform was sanctioned as a Digital Payment Token Provider by the MAS in November 2021.
Secretary general and CEO of the Singapore Red Cross, Benjamin William, commented:
“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.”
“Enabling cryptocurrency donations also opens more opportunities for the new generation of donors who are au fait with digital currencies to consider philanthropy and helping the vulnerable.”
Donors can contribute with the four above tokens or donate via a separate solution from a Binance digital wallet.
Currently, crypto donations are not tax deductible.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
