Ripple Pledges to Give Part of its Profits to Charity

Ripple, a blockchain technology firm based in San Francisco, has committed to joining the Pledge 1% movement, an initiative that encourages businesses to donate a portion of their resources to charitable causes.

This program, established in 2014, invites companies of all sizes to contribute 1% of their profits, products, or time to support philanthropic efforts. Ripple’s participation highlights its ongoing commitment to social impact, focusing particularly on advancing blockchain innovation and enhancing the accessibility of financial services.

The Pledge 1% initiative has gained significant traction over the years, with nearly 18,000 companies from over 130 countries now involved.

These organizations, including well-known names like Cloudflare and Reddit, have collectively contributed billions of dollars to charitable causes.

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The movement recently celebrated its 10-year anniversary, marking the occasion by ringing the Nasdaq closing bell.

Ripple’s involvement is part of its broader philanthropic strategy, which has seen the company donate $180 million since 2018 to various global initiatives.

Notably, Ripple recently contributed $100,000 to flood relief efforts in Brazil and pledged $1 million in partnership with the International Rescue Committee to support humanitarian work.

Alexander Stefanov