Ripple announced on October 16 that it would partner with the renowned humanitarian organization International Rescue Committee (IRC) to provide solutions for the delivery of humanitarian assistance. The crypto and blockchain solutions company also revealed that the IRC could leverage Ripple’s stablecoin RLUSD to deliver humanitarian aid.
The IRC is known for its efforts to help people affected by crises in different regions globally. Beyond bringing aid, the partnership will allow the IRC to help people recover and rebuild their lives after disasters, political unrest, and more, according to the report.
The crypto company has been heavily involved in humanitarian donations and has supported different organizations. Ripple also launched its Ripple Impact program to fuel positive change globally through blockchain solutions.
Ripple Impact has donated over $185 million since 2018, with $25 million in grants contributed last year. Impact has also partnered with corporations, such as Mercy Corps, Mojaloop Foundation, Institute for Business and Social Impact, Bill & Melinda Gates Foundation, and more.
Ripple partners operate in over 80 countries, helping people access aid and financial inclusion. In the announcement, Ripple confirmed the increasing need for aid, with the UN reporting that 360 million people globally require aid as global issues increase.
Ripple makes a $1 million commitment to IRC
Ripple made a $1 million commitment to the IRC for several years to help the organization. The multi-year commitment will mark the IRC’s exploration of blockchain technology, including the XRP Ledger’s open-source solutions and the Ripple global payment network. Ripple will contribute to two key areas: cross-border transfers and cash relief programs.
According to Ripple, the partnership will take advantage of Ripple’s standing as a global payments provider and IRC’s success in providing humanitarian aid. The IRC has delivered aid across over 40 countries, with over $70 million in voucher and cash relief. As such, the crypto payment solution’s provider believes that the partnership can potentially change the scope of humanitarian aid.
“We look forward to learning from the IRC’s deep experience in delivering aid on the ground, which will help Ripple support humanitarian efforts at scale.”
-Eric van Miltenburg, Ripple‘s SVP of Strategic Initiatives
According to David Miliband, the president and CEO of the IRC, the humanitarian organization is dedicated to finding more innovative ways to respond to humanitarian crises faster. Miliband also revealed that the IRC would explore Ripple’s payment gateway, including stablecoins, to serve people in more limited access areas.
Ripple is yet to get approval for RLUSD
Ripple announced its plans to unveil the RLUSD stablecoin, which is awaiting approval. Ripple Labs also announced the partners who would help with the initial launch of the stablecoin. Bitstamp, CoinMENA, Independent Reserve, Bitso, MoonPay, and more were among them.
The multiple exchanges on which RLUSD will launch are supposed to aid with the coin’s adoption. Other partners, such as KeyRock, will help the stablecoin have enough liquidity. Brad Garlinghouse mentioned that RLUSD would help set standards for enterprise-grade stablecoins.
The coin, which the IRC is set to use, is now in its beta testing phase on Ethereum and the XRP Ledger. The private event has been going on for more than 2 months. Ripple has still minted 99% of RLUSD to go into circulation.
