Ripple gives Mercy Corps about $10M

Noticias • 2020/10/19 • por
remitano

Mercy Corps from Ripple aims to assist countries where the financial system is lacking.

During Ripple's annual conference, the American tech company donated about $10M to Mercy Corps to assist in using crypto assets for improving financial inclusion in developing markets.


Credit: mercycorps.org

Major Updates:

  • Mercy Corps boast of having helped above 200M people solve several humanitarian disputes
  • Based on reports, the corps will work with Ripple to solve crypto-related issues.
  • Mercy Corps will collaborate with Ripple nonprofit, RippleWorks, to support cryptocurrencies solutions.
  • Mercy Corps Managing Director, Scott Onder, explained the need to carry the less privileged along in the fintech revolution.
  • He added that the existing financial system is outdated and also exclusionary, with billions of individuals unbanked.

Evolving fintech, cryptocurrency, and blockchain technologies are capable of solving this problem. However, the less privileged are at risk of being left behind if they are not considered as these technologies are being developed and deployed, Onder concluded.

During the conference, Ripple also stated that a top financial institution in the United States is presently using its products.

What do you think about Ripple's efforts in ensuring financial, including? Drop your comments below.

Source: Cointelegraph.

Comentarios (1)
Invitado
exodusab
hace 6 años
Mercy Corps will partner with RippleWorks in several countries to support development of fintech solutions involving blockchain and digital assets. Ripple said the $10 million would also be used to support the launch of FinX, an initiative by Mercy Corps and its ventures arm to develop a financial set-up that doesn’t marginalize those without access to traditional banking. According to the announcement, Ripple has also been working with the ventures arm of Mercy Corps to develop pilots and invest in fintech startups in developing countries, including some in Latin America.

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