Ripple Pledges $25 Million To Its New ‘Ripple For Good’ Non-Profit Initiative

Ripple has announced the launch of their nonprofit initiative, Ripple for Good, to support projects that are focused on financial inclusion and education.

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Ripple has announced the launch of their nonprofit initiative, Ripple for Good, to support projects that are focused on financial inclusion and education.

Ripple Pledges  Million To Its New 'Ripple For Good' Non-Profit Initiative$105 million venture to support education

Ripple has pledged $25 million of its own funds to the charity initiative and has received $80 million worth of donations so far.

The company stated that the focus of the initiative will be on education, with special preference given to STEM and FinTech sectors.

Ripple added that education is the primary driving force behind innovation, which is why the company has so far donated more than $50 million to 17 universities worldwide through its University Blockchain Research Initiative that was established earlier this year.

The press release pointed out that Ripple for good will also focus on real-world applications of the blockchain technology, with the aim that the technology will have a social impact in the life of students.

Ken Weber, Head of Social Impact at Ripple, stated that for those committed to transformative global change, ensuring innovations in banking and global payments are available everywhere is very important.

He added that efforts had been made to ensure that these innovations are available among unbanked and underbanked populations, and in sectors that serve the populace.

The goal of Ripple still remains to deliver an Internet of Value for all, he added.

Ripple for Good to collaborate with RippleWorks

The press release added that Ripple for Good will be working with RippleWorks, another of Ripple’s nonprofit initiatives. The duo will work on social initiatives across several sectors, with education and financial inclusion the primary targets.

Doug Galen, the CEO, and the co-founder of RippleWorks, stated that over the past four years, the initiative has worked on 70 projects in 55 countries and has meaningfully touched the lives of 250 million people.

Ripple’s co-founder Chris Larsen stated that the company is becoming more focused on building things that solve real-world problems.

By leveraging blockchain technology Ripple believes over two billion underbanked people can become full economic citizens.

Actor Ashton Kutcher, who is a Ripple investor back in May donated $4 million in Ripple (XRP) to Ellen Degeneres’ Wildlife Fund.

Other crypto companies also engage in charity

Ripple’s initiative is not an isolated case, with some cryptocurrency companies also rolling out charity programs.

In June, Coinbase CEO Brian Armstrong launched GiveCrypto, a charity initiative that accepts donations in cryptocurrencies.

The initiative was started to provide people living in third world countries access to banking services and other financial essentials.

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