- The Singapore Red Cross has joined the ranks of other prominent charities by enabling cryptocurrency donations
- The charity is working with licensed processor Triple-A
- The Italian Red Cross accepted crypto donations during COVID
The Singapore Red Cross has followed other illustrious charities’ footsteps by enabling cryptocurrency donations. This strategic collaboration aims to empower businesses to contribute to the humanitarian efforts of the Singapore Red Cross through the burgeoning world of cryptocurrencies, with the charity partnering with Triple-A, a licensed crypto payment gateway, for the venture. The Singapore branch isn’t the first Red Cross outfit to accept digital assets for donations, with the Italian Red Cross doing so during the COVID pandemic.
Singapore Red Cross Evolves Fundraising Methods
The Singapore Red Cross made the announcement over the weekend, with a spokesperson extolling the virtues of using accepting them:
In a world where technology shapes the future, our partnership with Triple-A allows us to evolve our fundraising efforts and connect with a wider network of potential supporters. Through cryptocurrency donations, we aim to bolster our local humanitarian projects that serve vulnerable seniors, individuals with disabilities, and disadvantaged children, youth, and families.
The initiative not only bridges the gap between traditional financial systems and the digital realm but also streamlines the process for donors. Through Triple-A’s innovative solutions, making a donation in cryptocurrency becomes just as easy as donating in fiat, something of a holy grail for crypto organisations.
Triple-A Recognition Helps the Cause
Triple-A is a trusted name in the crypto industry in the region, offering businesses and charities across diverse sectors the chance to tap into the expanding crypto sphere and gain access to over 420 million cryptocurrency users worldwide. Tripl-A gained a Monetary Authority of Singapore (MAS) license in December 2021 and now boasts support for more than 15,000 businesses globally.
By adopting Triple-A’s system, the Singapore Red Cross opens its doors to a new form of support, enabling individuals and corporations to contribute to humanitarian causes in one of four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), USDC, and USDT. The organization makes it clear that it doesn’t have “any preferred cryptocurrency” and that it accepts any of the four equally.
Charities Using Crypto More and More
The process is designed to be user-friendly, with donors specifying an amount in traditional fiat currency and the system seamlessly converting it into the chosen cryptocurrency in a matter of seconds.
The collaboration between the Singapore Red Cross and Triple-A sets a pioneering example of embracing technology for social good, adding to the experiences of the Italian Red Cross during COVID and the people and government of Ukraine, all of which have benefited tremendously from crypto donations.