Business newsSingapore Red Cross Accepts Cryptocurrency Donations

Singapore Red Cross Accepts Cryptocurrency Donations

The Singapore Red Cross, a charity that provides humanitarian aid and community services in the city-state of Asia, now offers the opportunity for people to support its mission by donating using digital currencies.

This became achievable through a collaboration between the organization and the crypto payment gateway Triple-A.

The charity has shared that those interested in making such contributions can specify a donation amount in traditional currency, and the platform will seamlessly convert it into the corresponding cryptocurrency. Currently, Singapore Red Cross is equipped to accept several of the most significant digital assets in terms of market value, including Bitcoin (BTC), Ethereum (ETH), USDT, and USDC.

“We do not have any preferred cryptocurrency, and we accept any of the cryptocurrencies stated above,” it clarified.

Currently, this form of donation doesn’t qualify for tax deductions, as clarified by the organization. For individuals seeking tax benefits, the recommended approach is to make their contributions using a credit card.

The Singapore Red Cross emphasized that every cryptocurrency donation will directly contribute to their humanitarian initiatives, which are aimed at enhancing the well-being of children, elderly individuals facing isolation, people with disabilities, and families who come from underprivileged backgrounds.


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