Crypto.com has announced a partnership with 6 charities in Singapore. The objective is to facilitate asset-to-fiat donations, thereby helping charities expand their pool of donors. Crypto.com has committed to handling all the processing and conversion aspects on behalf of the charities that have partnered with the company.
Moreover, they will collectively work to develop projects that leverage Web3 for a larger impact on society.
Charities that have signed an MOU – Memorandum of Understanding – with Crypto.com on December 13, 2023, are:
- Cycling Without Age Singapore
- CARE Singapore
- Dementia Singapore
- The Salvation Army Singapore
Representatives of all the charities were present to sign the MoU. It was executed by Singapore Fintech Association President Shadab Taiyabi. The signing was hosted at The Salvation Army Fellowship Hall.
Not just expanding the donor pool, Crypto.com will also enable its partners to advance their humanitarian causes and help those in a vulnerable state. Meaning, a larger pool of donors will bring more funds, and charities will be able to help more people who are in dire need of humanitarian assistance.
The partnership goes a step ahead by committing to exploring three aspects – GenAI, Web3, and blockchain projects. Efforts in this exploration will be directed at resolving the issues the non-profit sector has faced for a long time. For instance, they will work to strengthen cross-border payments and improve mechanisms for greater transparency.
All the parties who have signed the MoU have further pledged to undertake initiatives for awareness and education collectively. It will be centered around blockchain technology and Artificial Intelligence (AI).
Chin Tah Ang, the General Manager for Crypto.com in Singapore, has underlined that helping their partner charities will enable them to reach a new section of donors who hail from the tech-savvy foundation. Chin has further stated that they believe in the potential of AI & blockchain and are proud to work with all the well-respected charities in Singapore.
Major David R. Erickson, Secretary for Business Administration at The Salvation Army, has called this an exciting development, adding that they believe ledged-based digital transactions are the future for the non-profit sector.
The Salvation Army has a history of investing in strategic partnerships aimed at sustainable development. A partnership with Crypto.com carries that history forward.
Crypto.com has, since 2016, earned the trust of over 80 million customers from across the world. It functions on the vision of expanding the accessibility of cryptocurrency to the extent that it is in every wallet. Our Crypto.com review explains more about the company, along with details on its features and functions.
Crypto.com is now tasked with seamlessly processing and converting donations for all the charities of Singapore, allowing them to expand their pool of donors to advance humanitarian causes.