#Ripple Announces $105 Million Charity Venture for Education, Financial Inclusion Projects
Ripple is launching a formal social impact program, dubbed “Ripple for Good,” according to a press release published September 27. The initiative will pool $25 million from the firm together with $80 million in donations to invest in projects focused on education and financial inclusion.
The press release states that Ripple is still assessing which projects will form a part of their initiative, but that the choices are likely to focus on educational programs in the fields of Science, Technology, Engineering and Mathematics (STEM) and financial technology (FinTech).
The firm says it believes education to be “the key driver [...] [that will] encourage broader understanding, adoption and innovation across business, finance, computer science, policy and more.” Ripple has already contributed to blockchain, crypto, and fintech education by donating $50 million to 17 universities globally as part of its University Blockchain Research Initiative (UBRI), which launched in June of this year. Ken Weber, Head of Social Impact for Ripple, has today outlined the broad vision of the initiative, singling out global financial inclusion as its cornerstone aim. Read more...