Singapore Red Cross now accepts crypto donations

The humanitarian aid organization is partnering with Triple-A to enable crypto payments

article-image

rospoint/Shutterstock modified by Blockworks

share

Singapore’s Red Cross charity now accepts donations in the form of crypto thanks to a recent integration with licensed crypto payment gateway Triple-A. 

Supported cryptocurrencies include bitcoin (BTC), ether (ETH), and stablecoins tether (USDT) and Circle’s USD Coin (USDC), according to a press release.

“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,” Singapore Red Cross explained.

Secretary General and CEO of Singapore Red Cross Benjamin William said accepting cryptocurrency opens up opportunities for a “new generation of donors” to help the vulnerable. 

“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,” William said in a statement.

Other divisions of the Red Cross also accept crypto as well. The American Red Cross accepts crypto through BitPay, for instance. 

Triple-A, which is incorporated in Singapore, has been sanctioned as a Digital Payment Token provider by the Monetary Authority of Singapore since Nov. 30, 2021, making it a longtime regulated firm in the city state. 

It beat out big companies like Circle for licensing, which was pre-approved in November 2022 and fully approved as a major payment institution in June 2023.

Triple-A also accepts all existing crypto wallets, according to its website, simplifying the process for crypto holders to send money to the Singapore Red Cross. 

The Singapore Red Cross also clarified that unlike fiat donations, donations with cryptocurrency are not tax-deductible at the moment. However, donating via a credit card is a surefire way to get a tax benefit.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research report - cover graphics (1).jpg

Research

In this report, we dive into crypto private market data to gather insights on where the future of the industry is headed. Despite a notable downturn in private raises, capital continues to infuse promising projects that aim to transform payments, banking, consumer experiences, community, and more, with 2023 being the fourth-largest year for crypto venture capital.

article-image

BUZZ holds shares of Coinbase, Robinhood and MicroStrategy

article-image

Opinion: Even though I didn’t pay for my “Diamond Hands” burger with BTC, don’t let that fool you into thinking that crypto’s development is futile

article-image

The results mark “a major positive inflection point,” one analyst says, as the exchange carries net income momentum into a crypto rally

article-image

While the slate of 10 US spot bitcoin funds have tallied $4.6 billion of net inflows thus far, half of the field is lagging the leaders

article-image

Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume

article-image

DeFi on Bitcoin is all the rage right now and Stacks is positioned to benefit