UAE Charitable Foundation Approved for Crypto Donations
The Al Jalila Foundation, a United Arab Emirates charitable
organization, has recently announced that it has been given the approval to accept
cryptocurrency donations. Accepting cryptocurrencies makes it possible for the
foundation to receive funding via what is described as one of the
fastest-growing donation methods.
Accepting
Crypto Expands Foundation’s Donation Channels
A
United Arab Emirates (UAE) healthcare organization, Al Jalila Foundation, said
it has been given the approval to accept digital money and that well-wishers can
now donate cryptocurrencies. Al Jalila
Foundation has become one of the first non-profit organizations in the UAE to accept cryptocurrencies as donations.
In
a recently released statement, the Al Jalila Foundation also said it has
partnered with an unnamed "leading cryptocurrency platform."
Commenting on the move that expands the organization’s donation channels,
foundation CEO Abdulkareem Sultan Al Olama said:
"As a philanthropic organization, we rely on charitable donations. 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. Therefore, as an emerging source of fundraising, providing the
opportunity for the growing number of crypto users around the world to donate
to the Al Jalila Foundation to causes that interest them is a win-win for us as
a foundation and the donor community."
Olama also lauded a decision that he said makes Al Jalila Foundation the
"first" healthcare charity organization in the country to accept donations in
cryptocurrencies and one that bridges the gap between physical and digital
currency. With the decision to accept cryptocurrencies, the Al Jalila
Foundation joins other prominent charitable organizations like Save the
Children, which chose the Cardano Foundation as its partner.
The acceptance of cryptocurrency donations gives the Al Jalila Foundation, which has reportedly raised millions since its inception in 2013, an opportunity to get funding using a fast-growing donation method favored by millennial and Gen-Z donors.
0 Comments