Cryptocurrencies are becoming an increasingly popular alternative to traditional payments and have also proven a handy way for sending and accepting donations, as recently witnessed in the example of the invasion of Ukraine.
As more individuals, governments, and organizations begin to understand the advantages of this approach, a healthcare charity in the United Arab Emirates has decided to start accepting donations in crypto, according to a report by the ARN News Centre on June 3.
With this decision, the Dubai-based Al Jalila Foundation has become the first charity of its kind to open its donation channels to crypto, such as Bitcoin (BTC). Commenting on the development, the foundation’s CEO Dr. Abdulkareem Sultan Al Olama, said that this would help in “bridging the gap between physical and digital currency,” adding that:
“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.”
To achieve this, the charity – which is also a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives – has partnered with a leading cryptocurrency platform.
UAE’s crypto-oriented efforts
It is worth noting that the UAE is one of the countries at the forefront of the cryptocurrency wagon, aiming to open itself up to innovation in the space as much as possible and to make it a place of opportunity for women in the crypto industry.
Indeed, one of its other emirates – Abu Dhabi – is making its own efforts. Specifically, its Access Abu Dhabi and Abu Dhabi Investment Office (ADIO) have partnered with a U.S. Web3 identity platform and non-fungible token (NFT) domain name provider, Unstoppable Domains, to provide free crypto domains to women residing in the UAE capital.
Source: https://finbold.com/uae-prime-ministers-healthcare-charity-becomes-first-to-greenlight-crypto-donations/