Singapore Red Cross Partners with Triple-A to Accept Cryptocurrency Donations
Singapore Red Cross, a prominent humanitarian organization, has announced a partnership with Triple-A, the first crypto payment gateway licensed by the Monetary Authority of Singapore (MAS), to accept cryptocurrency donations. The partnership was revealed on August 7, 2023, just ahead of Singapore's National Day.
Triple-A, a licensed crypto payment gateway, enables businesses to increase revenue by accepting crypto payments and payouts. Their white-label solutions allow businesses to leverage the benefits of the growing crypto market without exposure to volatility risk or the need to handle or convert digital currencies. Trusted by over 20,000 businesses, Triple-A also holds licenses from Banque de France's ACPR in Europe and is registered with the United States Financial Crimes Enforcement Network (FinCEN).
With the integration of Triple-A's white-label crypto payment solutions, the Singapore Red Cross can now accept donations in various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC). All crypto donations will be converted into fiat currency and settled via bank transfer within one business day, ensuring prompt access to funds for humanitarian initiatives.
The Secretary General and CEO of Singapore Red Cross, Mr. Benjamin William, expressed his enthusiasm for the partnership, stating, "Cryptocurrency donations have become increasingly popular due to the efficiency of processing them and their global accessibility. By 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."
Mr. Eric Barbier, CEO of Triple-A, also commented on the collaboration, saying, "We're honoured to partner with the Singapore Red Cross in enabling cryptocurrency donations and empowering donors to support humanitarian causes with digital assets. Crypto payments offer faster, more secure transactions, reduce administrative overheads, and ensure that the funds reach those in need promptly."
The new payment option is now live on the Singapore Red Cross website, allowing donors from around the world to contribute using their preferred cryptocurrencies. The partnership aims to uplift the vulnerable in Singapore and open up more opportunities for a new generation of tech-savvy donors.