TL;DR Breakdown
• The GVNG wallet is enabled to accept any crypto donation.
• Engiven aims to benefit more than one million NGOs with crypto donations.
NGOs are profiting from crypto, and now Engiven and GVNG team up to help with crypto donations. Both companies join ties to promote crypto donation among their clients and other interested people.
According to the announcement, both tech company GVNG and charity Engiven have created the GVNG wallet to collect donations. The plans are that the crypto wallet will serve as a bridge to support more than a million NGOs from the United States and foreign countries.
Charities receive GVNG wallet support for successful crypto donation
The GVNG CEO said this project would correspond to the only one currently created to support crypto donations. The agent also clarifies that their objectives would not be met if they were not associated with Engiven. The GVNG wallet aims to solve people attracted to cryptocurrencies to donate a part of their earnings.
The crypto donation platform will also aim to expand the range of transactions between national and foreign clients, considering that cryptocurrencies cross borders. GVNG will take care of all the management regarding these donations so the beneficiary NGOs can use them.
Engiven has changed crypto donations into fiat currency such as the dollar, euro, pound, etc. The donation company also has the job of passing the funds onto the GVNG platform for withdrawal by charities. Transactions will not be subject to tax, so that the NGO will receive all donated money.
Crypto donation company pushes its plan to other countries
The Engiven CEO has claimed utmost satisfaction to meet his objectives with the crypto donation to other territories. James Lawrence, the co-founder, and CEO of Engiven, always dreamed of accepting donations in cryptos but could never complete it due to lack of support. However, GVNG responded to that call by providing its services to the company.
Charities have been involved in this crypto donation because of its versatility and global approval. Cryptocurrencies are used in the United States and other regions such as Asia, Europe, India, or even Latin America, benefiting donations.
These NGOs also consider Bitcoin for its value in the market. Some charities accept cryptos as a direct payment, while others prefer to use them as a bridge to exchange them in their local currency.
The GVNG portfolio will offer both withdrawal forms, so the NGO does not feel tied to withdrawing donations. For now, there are no more details about crypto donations on GVNG, but the tech company is expected to accept various cryptocurrencies.
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