In collaboration with financial institution Triple-A, the Singapore Red Cross has recently added cryptocurrency to its donation options, allowing donors to contribute using Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC).
Dubbed “Coin a New Way to Give,” the new payment method is the first crypto payment gateway to be licensed by the Monetary Authority of Singapore. This project allows for the acceptance of anonymous cryptocurrency donations.
“Your cryptocurrency donation will go towards funding our local humanitarian work, which supports isolated seniors, persons with disabilities, as well as children, youth and families from disadvantaged backgrounds,” the Singapore Red Cross said on its website.
All cryptocurrency donations will be converted into traditional fiat currency, followed by a settlement process through bank transfers, which will be completed within one business day after the donation is made.
This move highlights the Singapore Red Cross’s efforts to provide more flexibility for contributors to support their community-focused initiatives.
