In a recent blog by the Ripple, they have announced that they will be giving away a $1 million grant to a non-profit organisation.
Tipping Point is going to be lucky enough to receive a very substantial grant from the San-Francisco based company. The firm works towards numerous different charities and is also based in the Californian city but in the Bay area. This donation from Ripple will be used to fight all the poverty that occurs in the area and to “help individuals and families struggling to meet their basic needs.”
According to the announcement, Tipping Point has raised more than $15,000 since 2005 an assisted more than 21,000 individuals who have suffered from poverty.
“As part of our partnership, Ripple will work collaboratively with Tipping Point to explore ways to make the Bay Area more financially equitable and inclusive. We’ll put our heads together with experienced leaders from Tipping Point and its amazing grantee organizations to focus on increasing upward economic mobility for Bay Area workers and families,” as it states in the blog post by Ripple.
Any donations by employees based in San Francisco to Tipping Point or its local grantees will also be matched by the company on 2:1 basis.
This isn’t the first time that Ripple has shown their charitable side though as last year they launched the Ripple for Good initiative. This is a $100 million commitment that focuses on educational and financial inclusion goals as well as to STEM, fintech education and financial literacy. This is coupled with funding in the University Blockchain Research Institute, a collaboration with many of the top universities and colleges from across the globe in order to boost the availability of educational resources in blockchain technology.
Ripple’s charitable side is one we like seeing. It has been an extensive and long-standing and the $1 million in funding will most likely be a big boost to Tipping Point’s mission.
At the same time, the general development and exposure of Ripple has been going along nicely over the past year. The XRP token was listed on Coinbase but there was a significant amount of backlash to it and the head of SBI Holdings, a backer of Ripple, has got some big ambitions for the payment protocol on Ripple.