-based payments network recently $29 mln of its own to support public schools, fulfilling over 35,000 funding requests from teachers via DonorsChoose charity fund, as reported by March 28.
We’re so happy to give back to teachers like and all their students across the country!
Help us build on this momentum up by donating to projects on and continue the
— Ripple (@Ripple)
According to , DonorsChoose will convert the donations into US dollars over the course of two weeks in order to avoid the volatility of the cryptocurrency market, and to comply with the company’s policy to sell the donated currency immediately.
The donated money will be used to equip more than 30,000 classrooms across all 50 states; “approximately one million students are receiving books, school supplies, technology, field trips, and other resources vital for learning through DonorsChoose.org,” Ripple said in a March 27.
According to founder and CEO of DonorsChoose Charles Best, who sent a donation request to Ripple, the move would be “the largest donation of cryptocurrency.”
-based Ripple’s XRP token, currently trading at $0.53, is the third largest cryptocurrency by market capitalization, which amounts to over $20 bln at press time, according to the data from .
Ripple is not the first company to donate cryptocurrency to charity. As previously by Cointelegraph, (ETH) cofounder partnered with decentralized payment network OmiseGO to donate $1 mln in tokens to the African charity GiveDirectly.
Earlier in , Buterin also donated $2.4 mln worth of Ethereum to the SENS Research Foundation, a charity funding research for treating age-related diseases.
In December, bitcoin-exclusive $1 mln in (BTC) to the . Pineapple Fund aims to give away $86 mln worth of bitcoin in total to various nonprofit organizations.
Published at Thu, 29 Mar 2018 19:39:32 +0000
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