Unbaked Collects Donations In Crypto Form For The Toys For Tots Program

JAKARTA - This holiday season, fintech provider Unbanked will allow crypto donations for Toys for Tots, a program run by the United States Marine Corps that collects toys for distribution to disadvantaged children.

In its Dec. 2 announcement, Unbanked said it would allow users to donate cryptocurrencies including Bitcoin (BTC) and Ether (ETH) as part of a fundraising effort for Toys for Tots.

As of December 20, Good Samaritans can send cash for a program that has delivered 604 million toys to 272 million children across the United States, Puerto Rico and the US Virgin Islands.

“The cryptocurrency bull market has been good for all of us in the industry and this holiday season is the perfect time to pay for it,” said Unbanked co-CEO Ian Kane as quoted by Cointelegraph. “We naturally want to use the benefits of crypto to give back during this holiday season.”

However, unbanked does not exclusively represent the philanthropic efforts of all crypto users. A project operating under the Elf Token name reported receiving US$41,200 which will be used to purchase Toys for Tots on December 4, with the aim of raising US$100,000 over the holiday season.

Additionally, Giving Block, a platform that allows nonprofits and charities to accept donations in crypto, currently allows donations using multiple tokens for toy collection programs.

Charities, universities, faith-based organizations and others have increased the number and amount of donations in crypto as part of this year's Giving Tuesday. Cointelegraph reported on December 2 that the Giving Block raised $2.4 million in crypto this year, representing a 583% increase from the Tuesday following Thanksgiving in 2020.

The platform aims to raise more than 100 million US dollars in crypto donations by the end of the year.