Prominent fintech firm Ripple has said that it will donate up to $1 million worth of XRP tokens for relief purposes in earthquake-hit Turkey and Syria. The firm stated that it will directly donate $250k worth of XRP to the Crypto for Charity relief fund. Moreover, it will match 2:1 for all cryptocurrency donations made to the fund, with a limit of $750k.
Ripple’s contributions will go to NGOs (non-governmental organizations) providing earthquake relief in Turkey and Syria. The fund supports four NGOs, namely CARE, Mercy Corps, and the International Rescue Committee. Moreover, the donations are distributed equally, the firm said. The organizations are helping the impacted populations in Syria and Turkey by giving out emergency cash as well as essentials. These essentials include household kits, kits for women’s and girls’ dignity, hygiene supplies, and more.
Additionally, funds will be given to groups like World Central Kitchen to collaborate with mobile kitchens, regional chefs, restaurants, and food trucks to feed victims and first responders.
The cryptocurrency community has come out in favor of Ripple’s move and have begun donating to the cause.
Ripple joins other cryptocurrency firms donating to Turkey and Syria
Ripple is not the only firm endorsing relief in Turkey and Syria using cryptocurrency. The Tezos Foundation is supporting cryptocurrency donations for relief operations as well.
Additionally, Vitalik Buterin, a co-founder of Ethereum, has been actively donating ETH to numerous NGOs. Vitalik has donated over $228,000 (150 ETH) to two Turkish disaster relief groups over the previous several days. The names of the relief groups are Anka Relief and Ahbap.
Furthermore, Binance said that it will give each user impacted by the earthquake $100 in BNB. The cryptocurrency exchange said in a statement that it will be airdropping the token to potentially help impacted individuals.