Ripple Donates $1M XRP for Earthquake Relief in Turkey and Syria

• Ripple, a cryptocurrency company, has committed up to $1 million dollars worth of XRP coin for the earthquake relief efforts in Turkey and Syria.
• Ripple will donate around $250,000 (approx. 654,000 XRP) through its Ripple Impact Earthquake Relief fund hosted by Crypto for Charity.
• The fintech firm has also announced that it would match all other crypto donations to the fund in a 2:1 to a limit of $750,000.

Ripple Pledges Million Dollars

Cryptocurrency company Ripple has committed up to a million dollars of XRP coin to several organizations collecting funds for relief operations. On February 6, an earthquake rating 7.8 on the Richter scale hit Turkey and Syria. The calamity has already taken over 40,000 lives and injured many others. Relief operations are still ongoing as many victims are still stuck under the city’s rubble, with volunteers pulling out survivors daily.

Donation Through Ripple Impact Fund

The company announced through Twitter that it would directly donate around $250,000 (approximately 654,000 XRP) through its Ripple Impact Earthquake Relief fund, hosted by Crypto for Charity. The fintech firm has also announced that it would match all other crypto donations to the fund in a 2:1 to a limit of $750,000. This means that for every dollar of crypto donation, Ripple will contribute $2 till the upper limit of $750,000 is reached.

Four NGOs Benefiting From Donation

According to the fintech company, the Ripple Impact Earthquake Fund will equally distribute all the funds received to four non-governmental organizations (NGOs) – CARE, World Central Kitchen, Mercy Corps and International Rescue Committee (IRC). CARE is providing food shelter hygiene kits warmth supplies and cash assistance in Syria and Turkey; World Central Kitchen is distributing meals for survivors and first responders in Turkey; Mercy Corps is delivering essential supplies to impacted communities in Syria; while IRC is amping up its efforts to provide support by providing hygiene supplies and healthcare as well as creating safe spaces for women and children.

Crypto Community Rallies For Turkey-Syria

Crypto donations have pooled in with global crypto community rallying support – over 9 million of crypto have already been donated for relief efforts towards areas most affected by natural disaster such as Ethereum co-founder Vitalik Buterin sending 250 ETH (around 394k USD) towards different earthquake relief organizations operating in area while Tezos Foundation donating 50k XTZ tokens towards cause among numerous other donors from across world offering financial aid towards respective regions through cryptocurrencies like Bitcoin or Ethereum etc..

Disclaimer

This article is provided solely for informational purposes only — it should not be used or intended as legal advice or investment advice nor should be used or intended as tax advice or investment advice