The Al Jalila Foundation, a charity in the United Arab Emirates, recently announced that it has received permission to accept donations in cryptocurrency. Accepting cryptocurrency will allow the foundation to receive funds through what is considered one of the fastest growing methods of giving.
Accepting cryptocurrencies will expand the Foundation’s channels of giving.
Al Jalilah Foundation, a medical institution in the United Arab Emirates (UAE), said it has received permission to accept digital money, allowing philanthropists to donate through cryptocurrencies. By accepting cryptocurrency, Al Jalila Foundation became one of the first non-profit organizations from the UAE to do so.
In a recently releasedstatementAl Jalila Foundation also said it has partnered with an unnamed “leading cryptocurrency platform.” Commenting on the organization’s move to expand its giving channels, Abdulkareem Sultan Al Olama, CEO of the foundation, said.
As a charitable organization, we rely on charitable donations. To support our programs, we are always looking for innovative ways to expand our giving channels so that donors around the world have easy access to convenience. Therefore, offering the growing number of crypto users around the world the opportunity to donate to causes of interest to the Al Jalila Foundation as a new source of funding is a win-win for us as a foundation and for our donor community.
Olama also applauded the Al Jalila Foundation’s decision to become the “first” medical charity in the country to accept donations in cryptocurrency, which he said will bridge the gap between physical and digital currencies. With its decision to accept cryptocurrency, the Al Jalila Foundation joins other prominent charities such as Save the Children, which has chosen the Cardano Foundation as its partner.
By accepting cryptocurrency donations, the Al Jarrila Foundation, which has reportedly raised millions of dollars since its founding in 2013, has the opportunity to gain funding through what the statement calls a fast-growing giving method preferred by millennial and Gen-Z donors get.
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