{"id":546062,"date":"2023-08-07T18:00:44","date_gmt":"2023-08-07T18:00:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=546062"},"modified":"2024-06-11T08:01:48","modified_gmt":"2024-06-11T08:01:48","slug":"singapore-red-cross-to-accept-crypto","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/singapore-red-cross-to-accept-crypto\/","title":{"rendered":"Crypto Adoption: Singapore Red Cross To Accept BTC, ETH, USDT, And USDC"},"content":{"rendered":"

Cryptocurrency payments have been increasingly widespread in recent years, with their use spreading to nearly every market. A use case of cryptocurrencies that has seen particular growth is in crypto donations and the Singapore Red Cross has now taken the plunge.<\/span><\/p>\n

Singapore Red Cross Taking Crypto Donations<\/h2>\n

The Singapore Red Cross is the latest to jump on the crypto bandwagon as the homegrown humanitarian organization recently partnered with Triple-A, allowing donors to contribute Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC).\u00a0<\/span><\/p>\n

The country’s Red Cross Society is looking to capitalize on crypto adoptions<\/a> by partnering with Triple-A, the first crypto payment gateway licensed by the Monetary Authority of Singapore (MAS).\u00a0<\/span><\/p>\n

Related Reading: Curve Finance Announces $1.85 Million Bounty For Stable Pool Exploiter<\/a><\/div>\n

The Singapore Red Cross received more than $4.5 million in donations in 2022. However, by accepting BTC, ETH, USDT, and USDC, the humanitarian organization is opening itself up to donations from people across the globe.\u00a0<\/span><\/p>\n

\u201cBy 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,\u201d said <\/span>Benjamin William, Secretary General and CEO of the Singapore Red Cross. \u201cEnabling cryptocurrency donations also opens more opportunities for the new generation of donors who are au fait with digital currencies to consider philanthropy and helping the vulnerable.\u201d<\/span><\/p>\n

This is not the first time a Red Cross society will accept cryptocurrency donations, as the American and British counterparts already accept crypto donations. However, unlike US donors, donors to the Singapore Red Cross do not receive tax deductions, and all donations received will be converted to fiat currency within one business day.<\/span><\/p>\n

\"Crypto<\/p>\n

Total market cap falls to $1.121 trillion | Source: Crypto Total Market Cap on Tradingview.com<\/a><\/pre>\n
Crypto adoption in Singapore is one of the highest in the Asia-Pacific region. According to a <\/span>report<\/span><\/a>, over half of Singapore’s Gen X members invest in cryptocurrencies. Another similar <\/span>study <\/span><\/a>done by Statista showed that around 19% of people in Singapore own crypto, higher than the global average of 15%. More than 31% of respondents also indicated that they owned Bitcoin, one of the highest in the world.<\/span><\/p>\n
The Rise of Crypto Philanthropy<\/h2>\n
Crypto philanthropy has steadily grown over the past few years. Major organizations like the American Red Cross, and St. Jude Children\u2019s Research Hospital now take crypto donations. Crypto donations, in particular, have contributed a significant part of humanitarian efforts in the Ukraine war<\/a>, with the country receiving more than $212 million worth of crypto.<\/span><\/p>\n
Related Reading: Ethereum ETF Race Gets Hotter As SEC Receives 11 Filings In One Week<\/a><\/div>\n
A 2022 report found that USDC, USDT, and Ethereum are the most popular cryptocurrency used for donations. With the improved infrastructure to accept and manage crypto donations, charitable giving is expected to become more mainstream, <\/span>reaching <\/span><\/a>$10 billion by November 2032.\u00a0<\/span><\/p>\n
Featured image from Financial Times, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Cryptocurrency payments have been increasingly widespread in recent years, with their use spreading to nearly every market. A use case of cryptocurrencies that has seen particular growth is in crypto donations and the Singapore Red Cross has now taken the plunge. Singapore Red Cross Taking Crypto Donations The Singapore Red Cross is the latest to jump on the crypto bandwagon as the homegrown humanitarian organization recently partnered with Triple-A, allowing donors to contribute Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC).\u00a0 The country’s Red Cross Society is looking to capitalize on crypto adoptions by partnering with Triple-A, the first crypto payment gateway licensed by the Monetary Authority of Singapore (MAS).\u00a0 Related Reading: Curve Finance Announces $1.85 Million Bounty For Stable Pool Exploiter The Singapore Red Cross received more than $4.5 million in donations in 2022. However, by accepting BTC, ETH, USDT, and USDC, the humanitarian organization is opening itself up to donations from people across the globe.\u00a0 \u201cBy 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,\u201d said Benjamin William, Secretary General and CEO of the Singapore Red Cross. \u201cEnabling cryptocurrency donations also opens more opportunities for the new generation of donors who are au fait with digital currencies to consider philanthropy and helping the vulnerable.\u201d This is not the first time a Red Cross society will accept cryptocurrency donations, as the American and British counterparts already accept crypto donations. However, unlike US donors, donors to the Singapore Red Cross do not receive tax deductions, and all donations received will be converted to fiat currency within one business day. Total market cap falls to $1.121 trillion | Source: Crypto Total Market Cap on Tradingview.com Crypto adoption in Singapore is one of the highest in the Asia-Pacific region. According to a report, over half of Singapore’s Gen X members invest in cryptocurrencies. Another similar study done by Statista showed that around 19% of people in Singapore own crypto, higher than the global average of 15%. More than 31% of respondents also indicated that they owned Bitcoin, one of the highest in the world. The Rise of Crypto Philanthropy Crypto philanthropy has steadily grown over the past few years. Major organizations like the American Red Cross, and St. Jude Children\u2019s Research Hospital now take crypto donations. Crypto donations, in particular, have contributed a significant part of humanitarian efforts in the Ukraine war, with the country receiving more than $212 million worth of crypto. Related Reading: Ethereum ETF Race Gets Hotter As SEC Receives 11 Filings In One Week A 2022 report found that USDC, USDT, and Ethereum are the most popular cryptocurrency used for donations. With the improved infrastructure to accept and manage crypto donations, charitable giving is expected to become more mainstream, reaching $10 billion by November 2032.\u00a0 Featured image from Financial Times, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":546079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1119,6664,15531,89049,8323,89048,16680,10263],"class_list":["post-546062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btc","tag-crypto","tag-crypto-donations","tag-crypto-philanthropy","tag-eth","tag-red-cross","tag-usdc","tag-usdt"],"acf":[],"yoast_head":"\nCrypto Adoption: Singapore Red Cross To Accept BTC, ETH, USDT, And USDC<\/title>\n<meta name=\"description\" content=\"Cryptocurrency payments have been increasingly widespread in recent years, with their use spreading to nearly every market. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Adoption: Singapore Red Cross To Accept BTC, ETH, USDT, And USDC","url":"http:\/\/uniquehot.com\/news\/singapore-red-cross-to-accept-crypto\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/singapore-red-cross-to-accept-crypto\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/Red-Cross-Crypto-donations.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/Red-Cross-Crypto-donations.jpeg?fit=2048%2C1152"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["btc","crypto","crypto donations","crypto philanthropy","eth","red cross","usdc","usdt"],"dateCreated":"2023-08-07T18:00:44Z","datePublished":"2023-08-07T18:00:44Z","dateModified":"2024-06-11T08:01:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Adoption: Singapore Red Cross To Accept BTC, ETH, USDT, And USDC\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/singapore-red-cross-to-accept-crypto\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/singapore-red-cross-to-accept-crypto\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/Red-Cross-Crypto-donations.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/Red-Cross-Crypto-donations.jpeg?fit=2048%2C1152\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"btc\",\"crypto\",\"crypto donations\",\"crypto philanthropy\",\"eth\",\"red cross\",\"usdc\",\"usdt\"],\"dateCreated\":\"2023-08-07T18:00:44Z\",\"datePublished\":\"2023-08-07T18:00:44Z\",\"dateModified\":\"2024-06-11T08:01:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/Red-Cross-Crypto-donations.jpeg?fit=2048%2C1152","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/546062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=546062"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/546062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/546079"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=546062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=546062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=546062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}