Ripple Joins Forces With the IRC to Help Crisis-Affected People (Details)
RipplepartneredwiththeInternationalRescueCommittee(IRC)tosupporthumanitarianefforts. Thecollaborationaimstoimprovecashreliefprogramsandfundtransfers.Italsoexploreshowthecompany’supcomingstablecoin(RLUSD)canenhanceaiddeliveryinregionswithlimitedbankingaccess. Ripple’s$1MillionMulti-YearCommitment Ripplerecentlycollaboratedwiththeglobalhumanitarianorganization–theInternationalRescueCommittee(IRC).Theprimarygoalofthepartnershipwillbefocusedonhelpingpeopleaffectedbycrisis“tosurvive,recover,andrebuildtheirlives.” Moreover,theentitieswillexplorehowRipple’scross-borderpaymentsolutionandupcomingstablecoin(calledRLUSD)canbeemployedinthecause. Thecompanywillfundtheeffortwitha$1millionmulti-yearcommitment.“Thisfundingunderscorestheirjointexplorationofblockchaintechnology,includingRipple’sglobalpaymentsnetworkandopen-sourcedsolutionsbuiltonXRPLedger,intwokeyareas:cashreliefprogramsandcross-borderfundtransfers,”theannouncementreads. SpeakingonthematterwasEricvanMiltenburg,SVPofStrategicInitiativesatRipple,whosaidthedealwiththeIRCmarksan“importantmilestone”forthefirmtoleverageblockchaintechnologyforpositiveglobalimpact. “WelookforwardtolearningfromtheIRC’sdeepexperienceindeliveringaidontheground,whichwillhelpRipplesupporthumanitarianeffortsatscale.BycombiningourfullsuiteofpaymentsolutionswiththeIRC’sexpertise,weaimtohelpvulnerablecommunitiesaccesscriticalresourcesquickly,securely,andatscale,”headded. DavidMiliband,PresidentandCEOoftheInternationalRescueCommittee,alsochippedin.Hesaidthehumanitarianorganizationisopentoexploringinnovativesolutionsthatcouldhelpcommunitiesinneed. “We’reexcitedtopartnerwithRipple,atrustedleaderinblockchainpayments,toexplorehowtheirtechnology,likestablecoins,canenhancethespeedandefficiencyofcash-relief,particularlyinregionswithlimitedaccesstotraditionalbankinginfrastructureintimesofcrisis,”hesaid. RippleandMercyCops Thisisnotthecompany’sfirstcollaborationwithawell-knownhumanitarianentity.In2020,itannounceda$10millioncontributiontoMercyCops–anorganizationthatoperatesinconflictzones,naturaldisasterareas,andregionsfacingpoverty.Ripple’sfundingaimedto“expandfinancialinclusionandincreaseeconomicempowermentglobally.” Followingthepartnership,MercyCopsstartedsupportingsolutionsthatleveragedigitalfinancialtechnologiestobringpeoplefromemergingmarketsintotheglobaleconomy. “Theexistingfinancialsystemisfragmented,antiquated,andexclusionary–leaving1.7Bpeopleunbankedanddisproportionatelyexcludingwomen. Emergingfintech,crypto,andblockchaintechnologieshavethepotentialtoradicallytransformit,buttherearesubstantialrisksfortheworld’smostvulnerablepeopleiftheirneedsarenottakenintoconsiderationasthesenewtechnologiesaredesignedanddeployed,”ScottOnder,SeniorManagingDirectoratMercyCorpsVentures,saidatthetime. cryptopotato.com