Ethereum
$ 1,248.78 1.44%
Solana
$ 42.29 0.05%
Dogecoin
$ 0.068408 0.49%
ApeCoin
$ 4.53 0.72%
Bitcoin
$ 21,507.00 0.51%
BNB
$ 239.68 0.75%

Al Jalila NGO will allow crypto donations after receiving support in UAE.

Al Jalila
TL;DR Breakdown

• Charities profit from the crypto industry
• Al Jalila could use the crypto-donations in Bitcoin or other big-name tokens

Recently the Al Jalila Foundation, dedicated to medical support, received approval to accept cryptocurrencies as a donation. The NGO is part of the recently created Mohammed Bin Rashid project. This would be the first NGO in Dubai to accept crypto donations promoted by various companies since 2021.

Crypto trading has become essential for charitable associations seeking to raise easy, safe, and fast money. The cryptos allow anyone interested in giving their support to do so whether or not they are in another country.

Al Jalila NGO takes advantage of the crypto market

Al Jalila

Al Jalila, the medical foundation founded in 2012 in the United Arab Emirates, has received permission to accept crypto-donations by demonstrating progress in its projects. But the NGO director said it would be linked to the crypto exchange to make its plans possible.

According to Al Olama Abdulkareem, CEO of Al Jalila charity, his signing depends solely and exclusively on contributions from citizens in Dubai, but now with these developments, everything will change. Al Olama recognizes that crypto trading is on the rise, so it’s not a bad idea to embrace it for their benefit.

The cryptographic research and analysis magazine Chainalysis indicates that Dubai wants to embrace the crypto trade. UAE would be one of the main focus points for crypto, knowing that there have been transactions above $25bn for the last few years, which is an astounding volume.

Crypto-donations: Pros of using crypto technology within NGOs

Al Jalila

Crypto trading has gained power in donations. Al Jalila, like other NGOs, can take advantage of fast crypto transactions not limited by the difference in countries. Crypto trading allows donors to send Bitcoin from the United States to Dubai with little problem.

Many crypto analysis agencies agree that crypto donations are a solution that should not be ignored unless these societies want to decline due to the lack of donation funds. The statistics indicate these donations in Bitcoin or other cryptocurrencies increased to over 1,500 percent in 2021 compared to 2020. The range of donations in cryptos reached about $10,000, while in traditional contributions, only approximately $120 was obtained.

It is unknown what kind of cryptos Al Jalila will accept for contributions, but it will likely support Bitcoin and a stablecoin like Tether USD. It is also unclear which exchange will support the NGO’s cause, but it is expected to be a renowned crypto firm. More details about the NGO and how well it has done within crypto trading will be forthcoming shortly.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Polkadot price analysis: DOT price will break above the closest resistance level found at $ 9 over the weekend
Monero Price Prediction 2022-2031: Is XMR Price Going Higher?
Bitcoin price analysis: BTC slowly retests $21,500, ready to return lower?
3 Innovative Coins Presenting Unique Income Opportunities

Follow Us

Industry News

Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users