To bridge the gap between physical and digital currency regarding giving, Al Jalila Foundation has become the first healthcare charity in the United Arab Emirates (UAE) to accept crypto donations.
With crypto philanthropy becoming an emerging trend among Gen Z and millennial donors, the nonprofit healthcare organization has teamed up with a top cryptocurrency platform to make this a reality.
Abdulkareem Sultan Al Olama, the CEO of Al Jalila Foundation, pointed out:
“As an emerging source of fundraising, providing the opportunity to the growing number of crypto users around the world to donate to Al Jalila Foundation to causes that interest them is a win-win for us as a foundation and the donor community.”
By taking the crypto donation route, the foundation seeks to enhance its capabilities, network, and channels per Dubai’s intention of becoming a leading cryptocurrency hub. Al Olama added:
“As a philanthropic organization, we rely on charitable donations, and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programs.”
Al Jalila Foundation has been spearheading life-changing healthcare programs in different fields like research, education, and medical treatment since 2013.
Accounting for 7% of global trading volume, the Middle East has emerged as one of the fastest-growing crypto markets, according to blockchain analytic firm Chainalysis.
With crypto transactions worth nearly $25 billion annually, the UAE is the third-leading nation by volume in the region.
Women residing in Abu Dhabi were recently given the opportunity to expand their knowledge base and ultimately explore the Web3 world through free crypto domains, Blockchain.News reported.
This was made a reality after NFT domain name provider Unstoppable Domains joined hands with Access Abu Dhabi and Abu Dhabi Investment Office (ADIO).
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Source: https://blockchain.news/news/al-jalila-foundation-sets-the-ball-as-first-charity-organization-in-the-uae-to-accept-crypto-donations