Al Jalila Foundation is the first one in the UAE to receive donations in cryptocurrency
Al Jalila Foundation, a non-profit healthcare organisation dedicated to transforming lives through medical innovation and a member of Mohammed Bin Rashid Al Maktoum Global Initiatives, announced that it has been approved to accept charitable donations in cryptocurrencies, making it the first healthcare charity in the UAE to accept donations in digital money.
Al Jalila Foundation also announced that it has partnered with a leading cryptocurrency platform. This unprecedented move in the philanthropic sector aims to expand the foundation’s donation channels, network and capabilities in line with Dubai’s vision to be a leader in the adoption of advanced financial technology and a prominent centre for digital assets.
Dr Abdulkarim Sultan Al Olama, CEO of Al Jalila Foundation, said: “As a philanthropic organisation, we rely on charitable giving and are always looking for innovative ways to expand donation channels for the convenience of donors from around the world to support our programmes. Therefore, enabling the growing number of cryptocurrency users around the world to donate to Al Jalila Foundation for their causes of interest as an evolving source of fundraising is a win-win for us as a foundation and donor community. We are proud to be the first healthcare charity in the UAE to accept cryptocurrency donations, bridging the gap between physical and digital currency.”
According to Chainalysis, the Middle East is one of the fastest growing cryptocurrency markets in the world, accounting for seven per cent of global trading volumes. The UAE has around $25 billion worth of cryptocurrency transactions each year and is the third-largest in the region.
Cryptophilanthropy has become an important and sustainable source of fundraising for charities, giving people more opportunities to donate to good causes. Cryptocurrency is also the fastest-growing way for millennial and Generation Z donors to donate. According to a study published by The Giving Block, a leading cryptophilanthropy platform for non-profit organisations and individual donors, total annual crypto donations in 2021 have increased by more than fifteen times since 2020. In addition, the average crypto donation was $10,455 compared to a cash donation of $128.
Since its founding in 2013, Al Jalila Foundation has raised millions for life-changing healthcare programmes in areas such as treatment, education and research. For more information on Al Jalila Foundation please visit the website
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