Ripple joins forces with IRC to help people affected by the crisis (details)

TL;DR

Ripple partnered with the International Rescue Committee (IRC) to support humanitarian efforts. The collaboration aims to improve cash relief programs and fund transfers. It also explores how the company’s upcoming stablecoin (RLUSD) can improve aid delivery to underbanked regions. Ripple’s multi-year $1 million commitment

Ripple recently collaborated with the global humanitarian organization – the International Rescue Committee (IRC). The main aim of the partnership will be to help people affected by the crisis “to survive, recover and rebuild their lives”.

Additionally, the entities will explore how Ripple’s cross-border payment solution and upcoming stablecoin (called RLUSD) can be used in the cause.

The company will fund the effort with a multi-year commitment of $1 million. “This funding underscores their joint exploration of blockchain technology, including Ripple’s global payments network and XRP Ledger-based open source solutions, in two key areas: cash relief programs and cross-border fund transfers,” he says the ad

Speaking on the matter, Eric van Miltenburg, Vice President of Strategic Initiatives at Ripple, said the agreement with the IRC marks a “major milestone” for the company to leverage blockchain technology for positive global impact.

“We look forward to learning from the IRC’s deep experience in delivering aid on the ground, which will help Ripple support humanitarian efforts at scale. By combining our comprehensive suite of payment solutions with the expertise of the “At IRC, we aim to help vulnerable communities access critical resources quickly, securely and at scale,” he added.

David Miliband, president and chief executive of the International Rescue Committee, also spoke. He said the humanitarian organization is open to exploring innovative solutions that can help communities in need.

“We are delighted to partner with Ripple, a trusted leader in blockchain payments, to explore how their technology, like stablecoins, can improve the speed and efficiency of cash relief, especially in regions with limited access to traditional banking infrastructure in times of crisis,” he said.

Ripple and Mercy punches

This is not the company’s first collaboration with a well-known humanitarian organization. In 2020, he announced a $10 million contribution to Mercy Cops, an organization that operates in conflict zones, natural disaster zones and regions facing poverty. Ripple’s funding was aimed at “expanding financial inclusion and increasing economic empowerment globally.”

Following the partnership, Mercy Cops began supporting solutions that leverage digital financial technologies to bring people from emerging markets into the global economy.

“The existing financial system is fragmented, outdated and exclusionary, leaving 1.7 billion people unbanked and disproportionately excluding women.

Emerging fintech, crypto and blockchain technologies have the potential to radically transform it, but there are substantial risks to the world’s most vulnerable people if their needs are not taken into account as these new technologies are designed and deployed technologies,” Scott Onder, Sr. Director of Mercy Corps Ventures, said at the time.

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