Singapore Red Cross partners with Triple-A to pioneer cryptocurrency donations, converting them to fiat currency for immediate humanitarian use.
- Singapore Red Cross teams up with Triple-A to accept crypto donations, marking a pioneering move in local philanthropy.
- Triple-A, a licensed crypto payment gateway, facilitates secure processing of crypto payments for 20,000+ businesses globally.
- Donations in Bitcoin, Ethereum, Tether, and USD Coin will be promptly converted to fiat currency for immediate use in humanitarian projects.
- This innovative partnership showcases crypto’s efficiency, attracts tech-savvy donors, and positions Singapore as a crypto-friendly hub for charitable giving.
Singapore Red Cross, a prominent humanitarian organization, and Triple-A, the first crypto payment gateway licensed by the Monetary Authority of Singapore (MAS), have announced a partnership to accept cryptocurrency donations.
With this partnership, Singapore Red Cross becomes the first major humanitarian organization in Singapore to embrace digital currencies for donations, marking a significant milestone in the country’s philanthropic landscape.
Triple-A, a licensed crypto payment gateway, offers businesses the ability to accept and manage crypto payments in a seamless and secure manner.
Their white-label solutions have gained the trust of over 20,000 businesses and hold licenses from Banque de France’s ACPR in Europe and registration with the United States Financial Crimes Enforcement Network (FinCEN).
The integration of Triple-A’s white-label crypto payment solutions allows Singapore Red Cross to accept donations in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC).
All cryptocurrency donations received will be promptly converted into fiat currency and settled via bank transfer within one business day, ensuring quick access to funds for humanitarian initiatives.
Expressing his excitement for the partnership, Mr. Benjamin William, the Secretary General, and CEO of Singapore Red Cross, highlighted the increasing popularity of cryptocurrency donations due to their efficiency and global accessibility.
He stated, “By accepting digital currencies, we open our doors to a new segment of donors who are tech-savvy and wish to make a difference through their digital assets.”
Mr. Eric Barbier, CEO of Triple-A, also expressed his honor in partnering with Singapore Red Cross and enabling cryptocurrency donations. He emphasized the benefits of crypto payments, including faster and more secure transactions, reduced administrative overheads, and ensuring timely delivery of funds to those in need.
Donors from around the world can now contribute using their preferred cryptocurrencies through the new payment option available on the Singapore Red Cross website.
This move aims to uplift vulnerable communities in Singapore and provide more opportunities for a new generation of tech-savvy donors to support humanitarian causes.
The partnership between Singapore Red Cross and Triple-A solidifies Singapore’s position as a leading hub for innovation in the crypto space.
By embracing cryptocurrencies for donations, the Singapore Red Cross showcases their commitment to leveraging technology and adapting to new trends in fundraising. This collaboration sets a precedent for other charitable organizations to explore the potential of digital currencies in advancing their missions.
As Singapore celebrates its National Day, the partnership between Singapore Red Cross and Triple-A represents a significant step towards harnessing the power of blockchain technology for good.
Together, they are making a positive impact in the world by utilizing the efficiency and accessibility of digital currencies to support humanitarian initiatives.