Ripple, the United States-based crypto solutions company and cross-border payment firm, has joined the bandwagon of entities making donations to reduce the impact of the unfortunate earthquakes that occurred on February 6 in Turkey and Syria.
Reportedly, about 10,000 buildings have been destroyed, over 36,000 killed, and more than 50,000 people trapped beneath the rubble, leaving over 13 million people in need of assistance in Turkey and Syria.
According to an announcement published a couple of hours ago, Ripple is pledging up to $1,000,000 in XRP to finance non-governmental organizations (NGOs) that are providing humanitarian aid to the above earthquake-stricken nations.
Notably, Ripple is making these financial commitments via a cause fund dubbed Crypto For Charity and the San Francisco-headquartered payments company is calling on more crypto projects to make voluntary donations to support victims of the Turkey-Syria earthquake.
As per the update, Ripple donated $250,000 in XRP, disclosing that it would match 2:1 all crypto donations made to the relief, up to $750,000.
“We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on Crypto4charity and are donating 250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k,” Ripple tweeted.
We are committing $1M in XRP to support NGOs providing earthquake relief in Turkey and Syria – through a relief fund on @crypto4charity_ and are donating $250k USD in XRP and will also match 2:1 all crypto donations here, up to $750k USD. https://t.co/5baCiawOJr
— Ripple (@Ripple) February 14, 2023
The company added that grants made to the Crypto For Charity fund will be distributed equally among the included four non-profit organizations. These NGOs include CARE, World Central Kitchen, Mercy Corps, and the International Rescue Committee (IRC).
CARE provides food, shelter, hygiene kits, warmth supplies, and cash assistance in Syria and Turkey, while World Central Kitchen focuses on distributing meals for survivors and first responders in Turkey. On the other hand, Mercy Corps delivers essential supplies in Syria. Whereas, the International Rescue Committee (IRC) majors in the provision of immediate cash, hygiene supplies, health services, and safe spaces for women and children in both Turkey and Syria.
Read Also: Bank of England Working With Ripple For Digital Pound Development
It’s worth noting that Ethereum co-founder Vitalik Buterin and the Tezos Foundation are among the crypto entities that have donated to the earthquake relief cause. In Buterin’s last two donations, he committed a total of 149 ETH to help victims of the natural disaster. Data on Crypto Ahbap show that $4,489,610 have been donated so far, at the time of writing.
The #TezQuakeAid initiative would like to express our gratitude to the @TezosFoundation for agreeing to support in facilitating the transfer to the NGOs.
We have successfully transferred 50,000 XTZ to the Tezos foundation wallet. We will share all relevant information soon.
— TezQuakeAid (@tezquakeaid) February 13, 2023
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