- Ripple has joined forces with Tipping Point to eradicate poverty in the Bay Area
- The $1 million grant will be used to support individuals and families struggling to make ends meet.
- The grant is part of the Ripple for Good project
Ripple, the San Francisco-based fintech firm in charge of the XRP altcoin has given a $1 million grant to Tipping Point, a nonprofit organization dedicated to fighting poverty in the Bay Area, as part of the former’s Ripple for Good initiative.
Ripple helping the poor in the Bay area
As stated in the press release, Ripple has sent a $1 million grant to the Tipping Point charity organisation whose primary objective is to alleviate the economic hardship of people in the Bay Area of San Francisco.
Founded in 2005 by Daniel Lurie, Tipping Point is dedicated to investing in projects that prevent and eradicate poverty in the Bay Area and make it possible for individuals and families in the region to lead better lives.
According to Ripple, the grant is part of its Ripple for Good project which is aimed at supporting mission-driven organizations as well as initiatives that promote financial inclusion globally.
Founded in September 2018, the Ripple for Good program is a corporate social impact program focused on supporting projects in various sectors of the global economy, including STEM, FinTech education and financial literacy and more.
Last year, Ripple for Good collaborated with leading universities around the world through the University Blockchain Research Initiative (UBRI) to promote research and innovation in distributed ledger technology (DLT), cryptocurrency and financial technology.
The Ripple for Good program also lent a helping hand to public school teachers by donating $29 million worth of XRP to them via DonorsChoose.org
Ripple Pledges to do more with Tipping Point
With the new partnership, Ripple says it plans to work more collaboratively with Tipping Point to explore the best ways to make the Bay Area more financially inclusive and equitable.
The firm says its employees are also eager to support Tipping Point and its grantees through personal giving and it (Ripple) would henceforth, match all donations made by its San Francisco-based employees by two-to-one.
It’s worth noting that the Ripple project is waxing stronger with each passing day.
This February, leading U.S.-based crypto exchange, Coinbase added support for XRP on Coinbase Pro.
At press time, XRP remains the third largest cryptocurrency in existence, with a market cap of $12.96 billion and a price of $0.31, as seen on CoinMarketCap.