Red Cross in Singapore Accepts Crypto Donations
Singapore Red Cross initially supports Bitcoin, Ethereum, USDT and USDC.
The Singapore Red Cross, an organisation providing humanitarian help and community services in the Asian metropolis, accepted cryptocurrency payments.
The possibility arose as a result of collaboration between the company and the Triple-A cryptocurrency payment platform.
The nonprofit organisation said that donors who want to participate may choose a monetary amount in fiat currency; the system would then automatically convert that amount into cryptocurrency. The Singapore Red Cross presently accepts Bitcoin (BTC), Ethereum (ETH), USDT, and USDC, some of the biggest digital assets by market value.
It was made clear that “we accept any of the cryptocurrencies stated above and that we do not have any preferred cryptocurrency.”
The Singapore Red Cross has said that all cryptocurrency donations would go towards helping underprivileged children, elderly people living alone, people with disabilities, and low-income families. “Coin a new way to give today, your support will go a long way,” the organisation said.
In October 2021, donors were given the option to contribute cryptocurrency to the Florida-based Nicklaus Children’s Hospital Foundation, a non-profit whose mission is to improve children’s healthcare. Donations were accepted in a wide range of cryptocurrencies and tokens.
The National Children’s Advocacy Centre and the American Susan G. Komen breast cancer organisation are two more. To facilitate contributions in over 50 cryptocurrencies, the former partnered with The Giving Rock towards the end of 2021.
The latter organisation followed suit in November 2022, becoming the first of its kind in Huntsville, Alabama, to take government funding in this kind. There are more than 90 currencies accepted, and donors who want to do so in cryptocurrency may be eligible for tax breaks.