Ripple has pledged to donate $1 million in its native crypto XRP for the earthquake relief efforts in Turkey and Syria.
Ripple Pledges Million Dollars
Cryptocurrency company Ripple has committed upto a million dollars of XRP coin to several organizations collecting funds for relief operations. On February 6, an earthquake rating 7.8 on the Richter scale hit Turkey and Syria. The calamity has already taken over 40,000 lives and injured many others. Relief operations are still ongoing as many victims are still stuck under the city’s rubble, with volunteers pulling out survivors daily. The company announced through Twitter that it would directly donate around $250,000 (approximately 654,000 XRP) through its Ripple Impact Earthquake Relief fund, hosted by Crypto for Charity. The fintech firm has also announced that it would match all other crypto donations to the fund in a 2:1 to a limit of $750,000. This means that for every dollar of crypto donation, Ripple will contribute $2 till the upper limit of $750,000 is reached.
4 NGOs Benefiting From Ripple Fund
According to the fintech company, the Ripple Impact Earthquake Fund will equally distribute all the funds received to four non-governmental organizations (NGOs) – CARE, World Central Kitchen, Mercy Corps, and the International Rescue Committee (IRC).
CARE is providing food, shelter, hygiene kits, warmth supplies, and cash assistance in Syria and Turkey. World Central Kitchen is distributing meals for survivors and first responders in Turkey. For this purpose, they are working with field kitchens, local chefs, restaurants, and food trucks. Mercy Corps is delivering essential supplies to impacted communities in Syria. The International Rescue Committee (IRC) is amping up its efforts to provide support to affected communities in both countries by providing hygiene supplies and healthcare and creating safe spaces for women and children.
Crypto Community Rallies For Turkey-Syria
Crypto donations have pooled in, with the global crypto community rallying support. Over $9 million of crypto has already been donated for relief efforts for the areas most affected by the natural disaster. Ethereum co-founder Vitalik Buterin has sent around 250 ETH (around $394,000) to different earthquake relief organizations in the area. The Tezos Foundation is also donating around 50,000 XTZ to the cause.
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.
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