Ripple Expands Humanitarian Support and Donates US$100,000 to Flood Victims in Brazil

The recent floods that devastated the state of Rio Grande do Sul completed a month, revealing a scenario of destruction with a profound impact on the lives of thousands of people. According to Civil Defense, the disaster resulted in 169 deaths, while 44 individuals are still missing and more than 629,000 were forced to leave their homes.

The rains that began on April 27 in Santa Cruz do Sul, in the Vales Region, triggered one of the worst natural calamities that Brazil has faced in more than 80 years. In the face of this crisis, Ripple, known for its activities in the cryptocurrency sector, announced a significant donation to assist in recovery efforts and support for victims.

In a solidarity move, Ripple communicated through its official profile on identifier X the donation of US$ 100 thousand. The initial contribution was made in XRP tokens and allocated to a fundraising campaign led by Bitso — a renowned cryptocurrency exchange based in Mexico — and the fintech platform BRLA. Additionally, Ripple has promised to double the contributions made by its employees by applying a generous 2:1 ratio to its matches.

Our thoughts are with those impacted by the catastrophic flooding in Rio Grande do Sul, Brazil. We are committing $100,000 USD to help ongoing relief efforts, with the first donations made in XRP to fundraisers started by @Name and @BRLAdigital supporting @acaodacidadania and…

— Ripple (@Ripple) May 28, 2024

This is not Ripple’s first charitable gesture. The company had already stood out for previous humanitarian actions, such as partnering with Madonna in 2008 to help orphans in Malawi and, more recently in 2019, alongside Tipping Point, it helped low-income families find a path to financial stability.

The disaster in Rio Grande do Sul left hundreds of thousands without access to basic services such as electricity and drinking water, and the region’s recovery could take years. Ripple’s initiative is an example of how the cryptocurrency sector can play a vital role in humanitarian responses, providing not only financial resources but also hope for those seriously affected by natural tragedies.

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