Ripple to Donate 1% of Profits to Good Causes
2024-12-04

San Francisco-based enterprise blockchain company Ripple has announced its decision to join the Pledge 1% corporate philanthropy movement. 
The company will focus on supporting blockchain innovation and making financial services more accessible among other initiatives. 
The movement, which was launched back in 2014, aims to encourage companies a various states of development to make charitable contributions to good causes. The companies that have decided to join the movement can donate 1% of their products, profits, or time. 
Roughly 18,000 companies from more than 130 countries have now joined the Pledge 1% initiative. 
It has managed to ignite "billions of dollars" in new philanthropy over the past decade, with more than 60 unicorns joining the moment. 
The list of participants includes such big names as Cloudflare and Reddit. tekFinder, one of the top technology requirement agencies, also became part of the movement earlier today. 
Earlier today, Pledge 1% rang the Nasdaq closing bell to celebrate its 10-year anniversary. 
Ripple says that its recent decision to join the popular movement was driven by its desire to promote "meaningful change." 
Ripple has now donated a total of $180 million to various partners and initiatives since 2018. 
As reported by U.Today, the San Francisco-based company donated $100,000 to the victims of the floods in Brazil that devastated the country back in May. 
In October, Ripple announced a tie-up with the International Rescue Committee (IRC), pledging a total of $1 million. 
Earlier this year, the company was recognized as the leader in the realm of crypto payments. 