CIRCLE WORKS WITH ENDAOMENT, ESTABLISHING A USDC-BASED DISASTER RELIEF FUND TO HELP COMMUNITIES AFFECTED BY DEADLY TORNADOES
The Circle Impact Disaster Relief Fund is part of the recently announced program by Circle Circle impact initiative and will be a long-term tool for making simple, easy, non-profit disaster relief donations. From fund page, minimum donations of $ 20 can be done through USD Coin (USDC) or other cryptocurrencies through connected crypto wallets. Donations of Fiat currency, regardless of denomination, can be made using a credit or debit card.
Endaoment is the first fully-integrated 501 (c) (3) nonprofit in the chain dedicated to creating a faster, documented, and transparent giving experience and mobilizing more efficient payments. Raising funds and sending donations on an open source blockchain gives unprecedented clarity to Endament’s audit trail and increases the efficiency of donations. With its innovative donor-advised fund model and low fee structure, Endaoment is able to place more value on grant recipients than other organizations.
âOur employees asked how Circle could help communities devastated by this weekend’s storms,â said Jeremy Allaire, co-founder and CEO of Circle. âWe knew that Endament could help us create a fundraising mechanism that would get aid into the hands of communities faster and provide the donation platform to expand donation opportunities to the Web3 community. They have been a wonderful and swift collaborator in this initiative. “
Endaoment will distribute the funds at intervals of $ 20,000 to a rotating list of organizations that will include: Western Kentucky Tornado Relief Fund Team, Disaster Philanthropy Center, Team Rubicon, All hands and hearts, Midwestern Food Bank NFP, American Red Cross and Mutual aid relief. Each organization will have the option of receiving their grant in US dollars via wire transfer or USDC through the organization’s cryptocurrency wallet.
âWhen the Circle team approached us to help us with the disaster relief efforts, it was a ‘Yes! “Easy and obvious,” said Robert heeger, founder and CEO of Endament. âIt is thanks to incredible partners like Circle that we have been able to grant more $ 11 million in donations to nearly 300 nonprofits this year. With the support of Circle, we are able to expand our reach and continue to enable the community to independently allocate charitable donations to causes in need of funding. “
Contribute to the Circle Impact Disaster Relief Fund at https://app.endaoment.org/circleimpact.
Circle is a global financial technology company that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications around the world. Circle is the primary operator of USD Coin (USDC), the leading digital dollar currency fueling native Internet commerce and payments continuously with circulation above 40 billion dollars and more $ 1.4 trillion in chain transactions. Today, Circle’s transactional services, corporate accounts and platform APIs are spawning a new generation of financial services and business applications that promise to increase global economic prosperity for all through frictionless exchange of financial value. Additionally, Circle operates SeedInvest, one of the largest startup fundraising platforms in the United States, which is a registered broker. Learn more about https://circle.com.
Endaoment is a California public benefit corporation headquartered in San Francisco, exempt from tax at the federal level under Section 501 (c) (3) of the Internal Revenue Code. Endaoment serves as the community foundation of the decentralized finance industry. Endaoment provides donor advised funds through its web application. By creating a strong community foundation entity for the crypto industry, Endaoment hopes to encourage charitable donations of cryptocurrencies and the adoption of cryptocurrency technologies by nonprofits. For more information visit https://endaoment.org/.
SOURCE Circle Internet Financial, LLC