Singapore Red Cross embraces the digital era by announcing its accepting donations in cryptocurrency.
Singapore Red Cross recognizes the untapped potential and convenience that digital currencies provide, solidifying their commitment to making a lasting impact on humanitarian efforts. After all, Singapore is among the leading countries in the world to adopt cryptocurrency in their ecosystems.
The Singapore Red Cross is now able to accept cryptocurrency payments from its supporters thanks to Triple-A’s crypto payment systems.
To enable the charity to finance humanitarian services to uplift the disadvantaged, particularly in Singapore, all cryptocurrency donations will be translated into fiat currency and settled via bank transfer within one business day.
On the Singapore Red Cross website, the new payment option is already active and allows contributors from all over the world to donate using their favorite cryptocurrency.
Donations can now be sent via the website of the Singapore Red Cross. Furthermore, charities made in cryptocurrency to the Singapore Red Cross won’t be eligible for a 2.5x tax deduction.
Benjamin William CEO highlights the significance of accepting Crypto donations
The Singapore Red Cross’ secretary general and CEO Benjamin William outlined the growing popularity of accepting cryptocurrency donations links to their “universal accessibility” and speed of transfer.
“By taking digital currencies, we widen our donor base to include tech-savvy donors who want to use their digital assets to make a difference,” he said. “Enabling bitcoin donations also increases the likelihood that younger contributors who are familiar with digital currencies will think about philanthropy and aiding the weak.”