Thursday
October 22
2020

Ripple Donates $10 Million To Mercy Corps To Accelerate Financial Inclusion in Emerging Markets

Ripple, an enterprise blockchain solutions for payments, has announced a $10 million USD contribution to Mercy Corps to expand financial inclusion and increase economic empowerment globally. 

One of Ripple’s founding ideas is to expand global financial inclusion for everyone and not just those in wealthy nations. The existing financial system is largely antiquated, broken and poorly designed to serve the needs of emerging markets, which are often overlooked by financial service providers. With the pandemic driving increasing shift toward digital payments, the number of people without access to affordable financial services is escalating. 

Ripple, through Ripple Impact, partners with innovative NGOs, universities and industry partners to bring the 1.7 billion unbanked adults into a modernized, global financial system that leverages the promise of financial technology. This partnership marks an important milestone in Ripple’s long-term commitment to achieving global financial inclusion.

Photo courtesy of Micheile Henderson

Source: IBS Intelligence (link opens in a new window)

Categories
Finance, Investing
Tags
emerging markets, financial inclusion, fintech, impact investing, social enterprise