JAKARTA— Digital currency exchange agency Crypto.com has donated $1 million to water.org, an organization for a clean water initiative co-founded by Matt Damon and Gary White in 2009.
Direct donations will be used to support water.org's mission of ending the global water crisis by providing clean water and sanitation to people in need. This was announced by Crypto.com, Monday 25 October. The partnership also aims to expose water.org to more than 10 million Crypto.com users, who are also encouraged to donate to the project.
Damon cites the ongoing financial transformation that cryptocurrencies are bringing about as one of the main motivations for partnering with Crypto.com. “As our financial solutions and platforms evolve, we can use them for good,” he said. “Crypto.com and Water.org are both working towards positive transformation, and our innovative financial solutions will help change lives and the world.”
Crypto.com is rapidly emerging as one of the fastest growing digital currency platforms in the world. The company rose to prominence by offering its customers a crypto-focused Visa card that pays rewards for staking Crypto.com Coin (CRO), the cryptocurrency's native platform.
As Cointelegraph recently reported, the exchange has expanded its insurance program to $750 million, reflecting the industry's rising consumer protection standards.
The cryptocurrency industry has ushered in a new era of charitable giving as its newly wealthy participants want to give back to their communities. Charity: Water, which has a similar mandate to Water.org, raised $1.3 million in June through a Bitcoin-focused trust (BTC).
Crypto donation platform The Giving Block has also facilitated charitable contributions for dozens of organizations by providing them with the tools and resources to start accepting crypto contributions.
Many non-profit organizations opened their coffers to crypto donations following the takeover of Afghanistan by the Taliban in August. Crypto donations are also used to support suicide prevention, ethical journalism, and even universal basic income projects.
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