Ripple, the crypto focused Californian FinTech firm, has recently declared that it has donated ten million USD to Mercy Corps to increase financial inclusion and grow economic enablement worldwide.
In a recent blog post, the company mentions that the impetus behind the establishment’s desire to develop financial inclusion for the entire world.
The post mentioned, “The existing financial system is antiquated, broken and poorly designed to serve the needs of those in emerging markets, which are too often overlooked by financial service providers. As the pandemic spurs an increasing shift toward digital payments, the number of those without access to affordable financial services is only growing. There is much at stake.”
In 2018, Ripple announced its social impact program dubbed “Ripple for Good”. At the time, the firm commented that the program would focus on projects connected to education and financial incorporation.
At the time, the Head of Social Impact at Ripple, Ken Weber, said that when they reflected on the exclusive role Ripple could play from a social impact stance, the company kept landing on the opinion that the aids of these new technologies should influence as many individuals as likely.
Furthermore, Ripple commented that Ripple for Good would work in partnership with RippleWorks, a nonprofit co-founded by Doug Galen and Chris Larsen that supports social pursuits across several segments, including learning and financial inclusion.
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