Oct 16, 2020 at 19:35 UTC.Ripple, the U.S.-based currency exchange and remittance network, is donating $10 million to Mercy Corps, a humanitarian aid non-profit, to "Expand financial inclusion and increase economic empowerment globally."
Ripple, through a non-profit unit, works with non-government organizations, universities and industry partners to "Bring the 1.7 billion unbanked adults into a modernized, global financial system that leverages the promise of financial technology," the company said in its release.
Mercy Corps will partner with RippleWorks in several countries to support development of fintech solutions involving blockchain and digital assets.
Ripple said the $10 million would also be used to support the launch of FinX, an initiative by Mercy Corps and its ventures arm to develop a financial set-up that doesn't marginalize those without access to traditional banking.
According to the announcement, Ripple has also been working with the ventures arm of Mercy Corps to develop pilots and invest in fintech startups in developing countries, including some in Latin America.
Ripple Donates $10M to Mercy Corps for Increasing Financial Inclusion
Published on Oct 16, 2020
by Coindesk | Published on Coinage
DeFi dev Andre Cronje's new Ethereum project surged 15,000% in 12 hours
Finance founder Andre Cronje began testing one of his latest projects.
Here's why Ethereum bulls don't care about Friday's $40M ETH options expiry
Although Ether price is below $400, data show traders are not worried about Friday's options expiry.
Japan is the 'leading candidate' for Ripple's new headquarters: SBI Holdings CEO
Japan is firming up at the most likely new headquarters for Ripple if it leaves its San Francisco offices.
Mongolia's largest bank to offer crypto-related services
Mongolia's largest bank will soon begin offering crypto services including custody, remittance, deposits, loans, and crypto-asset management.