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, 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
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.