Singapore Red Cross Embraces Crypto Donations: A New Era in Charity
The Singapore Red Cross, renowned for its humanitarian aid and community services, has taken a bold leap into the digital age. In a bid to tap into the new generation of tech-savvy donors, they've now started accepting cryptocurrency as a donation medium.
On August 7th, the Red Cross announced its collaboration with Triple-A, the premier crypto payment gateway licensed by the Monetary Authority of Singapore. This groundbreaking partnership allows the organization to welcome anonymous donations in popular cryptocurrencies like Bitcoin, Ether, Tether, and USD Coin. But that's not where the innovation ends; every digital contribution gets converted into fiat currency and is smoothly settled via a bank transfer in less than a day.
Benjamin William, the dynamic secretary-general and CEO of the Singapore Red Cross, is highly optimistic about this venture. He believes that by embracing cryptocurrencies, they're not only inviting the digital-age donors but also creating an avenue for them to contribute to society via their digital assets. Moreover, William emphasizes that this move could be a call to action for the younger generation who, being adept at digital currencies, might now consider the noble cause of philanthropy.
For donors eager to step forward, the option to donate via cryptocurrency is already live on the Singapore Red Cross's website. The innovative gateway doesn't just limit itself to the aforementioned cryptocurrencies. It also provides a separate avenue for those keen on donating directly from their Binance digital wallets.
In a related update, Singapore's stance on cryptocurrency received a noteworthy mention last month when the High Court classified cryptocurrencies as private property, essentially drawing parallels with fiat money.
