The Giving Block is a leading organization that focuses on cryptocurrency donations. A new partnership has allowed them to expand their reach in the crypto charity sector.
The Giving Block announced September 23 that the organization will work with RenPSG, a charitable platform provider, to allow donors to transfer cryptocurrencies such as Bitcoin (BTC), into new donor-advised fund to support charities.
RenPSG will offer a solution to allow charities to accept more than 45 cryptocurrencies, including Ether (ETH), BTC (ETH), and Dogecoin(DOGE) as part of this partnership.
The Giving Block announced that the Renaissance Charitable Foundation, which is a donor-advised foundation sponsor, will be one of RenPSG’s first institutional clients to accept crypto donations via the new system starting this week.
RenPSG was founded in 1987 and is a major charity platform. It offers a unique donor-advised solution, known as DFX. According to The Giving Block in 2020, RenPSG was responsible for $16.6 billion in donor advised fund assets for financial institutions and non-profit organizations in the United States.
The Giving Block noted that RenPSG’s huge reach means that The Giving Block is making another step towards cryptophilanthropy becoming a global phenomenon on Twitter.
Kelly Palmer, RenPSG’s executive vice president for strategic growth operations, stated that the platform has begun accepting crypto donations as a response to growing industry adoption.
“The number of crypto donations has increased as has the number cryptocurrency users.” Many of our clients will take advantage of this solution in order to diversify the assets they accept into donor-advised funds and to create interest for a new pool of donors.
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Pat Duffy, co-founder of Giving Block, stated to Cointelegraph that Bitcoin was and Ether would be the most donated cryptocurrencies in the organization’s network by 2021. He noted that Bitcoin was historically the dominant cryptocurrency, but ETH is taking the lead this year. He also mentioned that DOGE donations are up this year.
The Giving Block was founded in 2018 and is a leading crypto donation platform that helps nonprofits raise funds for cryptocurrencies such as Bitcoin. The organization announced Monday that it expects to receive more than $100 million in cryptocurrency donations by 2021. Through a variety of partnerships, The Giving Block expects to facilitate $1 Billion in cryptocurrency donations by 2022. This is in addition to the giving season.
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