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.
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