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Singapore Red Cross, a charity focused on humanitarian aid and community services in the Asian city-state, has enabled individuals to support its mission through donations in digital currencies.
This option was made available following a collaboration between the organization and the cryptocurrency payment processor Triple-A.
‘Coin a new Way to Give Today’
The charity announced that donors wishing to contribute can specify an amount in fiat currency, which will then be automatically converted into cryptocurrency. Singapore Red Cross is currently equipped to accept several of the largest digital currencies by market capitalization, including Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.
“We do not have any preferred cryptocurrency, and we accept any of the cryptocurrencies stated above,” it specified.
The organization noted that this form of donation is not tax-deductible at present. Individuals seeking tax deductions should make contributions via credit card.
Singapore Red Cross indicated that each cryptocurrency donation will aid its humanitarian initiatives aimed at enhancing the welfare of children, isolated seniors, individuals with disabilities, and families from underprivileged backgrounds.
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“Coin a new way to give today, your support will go a long way,” the organization highlighted.
Other Charity Organizations Accepting Crypto Donations
Nicklaus Children’s Hospital Foundation, a non-profit organization in Florida dedicated to improving healthcare for children, began accepting cryptocurrency donations in October 2021. Contributors can donate using various assets, including BTC, ETH, BCH, LTC, DOGE, and others.
The American breast cancer organization, Susan G. Komen (commonly referred to as Komen), along with the National Children’s Advocacy Center, are additional examples. The former partnered with The Giving Rock at the end of 2021 to facilitate donations in over 50 cryptocurrencies.
The latter took a similar step in November 2022, becoming the first non-profit in Huntsville, Alabama, to accept such contributions. The supported cryptocurrencies exceed 90, and those who choose to donate with crypto are eligible for tax benefits.
“For us, it equates to a cash donation which turns into therapy hours for children, parenting classes, medical examines. It turns into hope and healing and justice for kids who have been hurt by the people who were supposed to be taking care of them,” said Hannah Alderson, Crypto-project Coordinator.
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