Crypto.com Pledges Support to Singaporean Charities
Date: 2023-12-14 Author: Dima Zakharov Categories: BUSINESS
Crypto.com has stepped forward to lend a helping hand to charitable organizations in Singapore. In a groundbreaking move, the platform has pledged to offer its technological expertise to support the endeavors of local charities.
A consortium of charitable organizations, including The Salvation Army, Care Singapore, Cycling Without Age Singapore, Minds, Dementia Singapore, and Limitless, have expressed their intention to accept digital asset donations and implement a transparent procedure for converting cryptocurrencies into fiat currency. Additionally, they plan to collaborate with Crypto.com on projects that hold significant social value.
A representative from Crypto.com emphasized that this support for charities would attract "technically savvy donors" to contribute to the welfare of socially vulnerable citizens in Singapore.
It is noteworthy that Crypto.com has also taken on the responsibility of mitigating potential risks associated with user identification procedures and anti-money laundering measures.
Previously, Crypto.com announced that its subsidiary, CRO DAX Middle East FZE, had successfully completed the second stage of licensing as a Virtual Asset Service Provider (VASP) under the Dubai Virtual Asset Regulatory Authority (VARA).
