Nonprofits Adopt Ripple Payments and RLUSD for Faster, Transparent Aid
Ripple has announced a significant partnership with prominent global nonprofit organizations aimed at accelerating the delivery of humanitarian aid through blockchain technology. Organizations such as World Central Kitchen, Water.org, GiveDirectly, and Mercy Corps are integrating Ripple Payments as a compatible solution. The utilization of Ripple's RLUSD stablecoin allows these organizations to facilitate money transfers with increased speed, transparency, and reduced fees.
Nonprofits often face challenges with cross-border fund transfers. Ripple Payments provides a solution that enables money transfers to be completed within seconds and operate every day of the year. This system bypasses the need for traditional banks, allowing for direct digital transfers without third-party interference or delays associated with managing crypto assets.
The RLUSD stablecoin is pegged to the U.S. dollar, ensuring a stable and predictable value. When used in conjunction with Ripple Payments, it empowers organizations to send aid more quickly and affordably. This integration enhances the potential for transparent transactions and efficient money tracking.
World Central Kitchen Scales Relief Operations with Ripple Technology
World Central Kitchen (WCK), a non-profit organization founded by Chef Jose Andres, is expanding its use of Ripple technology. Since 2020, the organization has been instrumental in providing millions of meals, supported by funding facilitated through Ripple. WCK is currently utilizing Ripple Payments and RLUSD to expedite the process of disbursing funds to local restaurants and suppliers.
World Central Kitchen is recognized for its rapid response capabilities and real-time adaptability in crisis situations. Its teams have successfully delivered over 500 million meals to individuals affected by disasters worldwide. By incorporating the Ripple platform, WCK is enhancing both accountability and the speed at which aid is delivered.
Water.org Expands Global Reach Through Ripple Payments
Water.org, co-founded by Gary White and Matt Damon, is also leveraging Ripple Payments. The organization initially tested the platform in Brazil, Mexico, and Peru. Following a successful pilot phase, Water.org plans to route all its Latin American transactions through Ripple. Furthermore, the organization is exploring expansion into Africa and Asia to bolster its global initiatives focused on water and sanitation projects.
Ripple Payments assists Water.org in rapidly sending funds to its microfinance partners. This significantly reduces transfer times and operational expenses, thereby supporting loans for access to safe water and sanitation. To date, over 81 million people have benefited from Water.org's ongoing efforts.
Mercy Corps Ventures Explores Blockchain-Based Relief Tools with Ripple
Ripple is also engaged in piloting RLUSD for solutions such as parametric insurance for unbanked populations and cash transfer programs for underserved communities. Mercy Corps Ventures is currently testing these solutions in Kenya. Additional pilot programs of this nature are being considered with GiveDirectly, with the objective of empowering aid systems in disadvantaged regions.
Mercy Corps employs approximately 4,300 humanitarian workers, with the majority operating within their respective countries of deployment. Their collaboration with Ripple aims to demonstrate how stablecoins can provide essential financial tools to individuals who are excluded from conventional financial systems.
Ripple Strengthens African Presence with Absa Bank Partnership
On October 15, Ripple established a strategic partnership with Absa Bank, one of South Africa's largest financial institutions. This agreement facilitates Absa's integration of Ripple's institutional-grade digital asset custody technology.
This partnership enables the bank to offer secure and scalable storage solutions for tokenized assets, including cryptocurrencies. It signifies Ripple's inaugural major custody partnership in Africa and marks an expansion into one of the world's most rapidly growing fintech markets.
Stablecoins, such as RLUSD, are increasingly recognized as practical instruments for global aid and remittances. They contribute to cost reduction, shortened transaction durations, and improved transparency, ultimately ensuring that a greater proportion of aid reaches beneficiaries directly. RLUSD achieved a valuation exceeding $900 million within its first year of launch.
Ripple's overarching objective is to foster a more inclusive financial network. By combining blockchain technology with stablecoins, the company assists organizations in providing relief with enhanced speed and efficiency.