A Not-For-Profit Organization in the UAE Begins to Accept Donations in CryptoJune 6, 2022
Al Jalila Foundation, a not-for-profit organization committed to transforming lives through medical research, education, and treatment in the UAE, has announced that it accepts digital currency. In addition, the organization stated that donors can now make contributions using cryptocurrency.
The Al Jalila Foundation is the UAE’s first non-profit organization to be granted authority to accept cryptocurrency donations. Furthermore, the foundation is situated in Dubai and is part of the Mohammed Bin Rashid Al Maktoum Global Initiative.
According to Chainalysis, the UAE is one of the world’s fastest-growing crypto markets, accounting for up to 7% of worldwide trading volume.
AJF seeks to strengthen contribution channels, network, and capacity through this integration, in accordance with the Emirates’ goal of being a leader in the use of modern financial technology and marketing itself as a digital asset hub.
Abdulkareem Sultan Al Olama, the foundation’s CEO, also commented on the growth of the organization’s donation channels. Sultan Al Olama said,
“As a philanthropic organization, we rely on charity donations and are constantly seeking innovative methods to expand our donation channels so that donors from all around the world can support our programs with ease and convenience.”
The Gulf region’s bitcoin market is thriving, attracting some of the biggest crypto exchanges in the world, including Bybit, Binance, Crypto.com, and Kraken.
Recently, Emirates Airlines reportedly said that it would begin accepting bitcoin payments. YallaMarket, an Emirati grocery delivery company, began accepting bitcoin payments last month.