Hassan Maishera
TL;DR
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Singapore’s Red Cross charity now accepts donations in cryptocurrencies.
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The charity accepts bitcoin (BTC), ether (ETH), stablecoins tether (USDT) and Circle’s USD Coin (USDC).
Singapore Red Cross Accepts Crypto Donations
Singapore’s Red Cross charity announced in a press release on Monday that it now accepts donations in the form of crypto.
This latest development comes following the Red Cross’s integration with licensed crypto payment gateway Triple-A.
At the moment, the Singapore Red Cross accepts donations in Bitcoin, Ether, Tether (USDT), and USD Coin (USDC).
While commenting on this, the Singapore Red Cross said;
“Powered by Triple-A, payment is compatible with all wallets and provides locked-in exchange rates. You can pre-define an amount (in fiat) that you would like to give, and the system will automatically do the conversion for you.”
Secretary General and CEO of Singapore Red Cross Benjamin William added that accepting cryptocurrencies opens up the organization to a new generation of donors. He stated that;
“By accepting digital currencies, we open our doors to a new segment of donors who are tech-savvy and wish to make a difference through their digital assets.”
Singapore Red Cross is not the first division of the charity organization to accept cryptocurrency donations. The American Red Cross accepts crypto through BitPay, for instance.
Triple-A is a Singaporean-based Digital Payment Token provider and is licensed by the country’s Monetary Authority of Singapore. The platform accepts all existing crypto wallets, making it easier for cryptocurrency holders to send donations to the Singapore Red Cross.
The Singapore Red Cross also revealed that donations with cryptocurrencies are currently not tax-deductible.
