According to its website, the Al Jalila Foundation became the first charity organisation in the United Arab Emirates (UAE) to start accepting crypto donations on June 5. It aims to bridge the gap between real and digital currency in terms of donating. With crypto philanthropy growing more popular among Gen Z and millennial contributors, the nonprofit healthcare organisation has partnered with a leading cryptocurrency platform to make this possible.
Abdulkareem Sultan Al Olama, CEO of Al Jalila Foundation, stated:
“As an emerging source of fundraising, providing the opportunity to the growing number of crypto users around the world to donate to the Al Jalila Foundation to causes that interest them is a win-win for us as a foundation and the donor community.”
Al Olama went on to say:
“As a philanthropic organisation, we rely on charitable donations, and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programs.”
Since 2013, the Al Jalila Foundation has been leading life-changing healthcare activities in disciplines such as research, education, and medical treatment. According to Chainalysis, a blockchain analytic firm, the Middle East has emerged as one of the fastest-growing crypto marketplaces, accounting for 7% of worldwide trade activity. The organisation hopes to improve its capabilities, network, and channels by accepting crypto donations, in line with Dubai’s goal of becoming a prominent cryptocurrency hub.
The UAE is the third-largest crypto-transactions country in the region, with about $25 billion in annual transactions. According to the sources, women in Abu Dhabi were also recently offered the opportunity to increase their knowledge base and eventually explore the Web3 world through free crypto domains.
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