Fintech firm Unbanked is partnering Toys for Tots to enable it to receive donations in cryptocurrencies such as Bitcoin and Ethereum, during the holiday fundraising program. Toys for Tots is an annual program run by the United States Marine Corps that collects new, unwrapped toys and distributes them to less fortunate children in local communities.
“Finding a present under the tree on Christmas morning is an experience every child deserves,” said retired Marine Colonel Ted Silvester, Vice President of the Marine Toys for Tots Foundation.
Unbanked will be hosting a crypto payment profile that allows people to donate in twenty-eight different digital currencies, including Bitcoin, Ethereum, USDC, Litecoin, and more. The program will run through until December 20.
Unbanked also recently added this feature alongside its crypto-friendly Debit Card and Global Bank Accounts to more seamlessly facilitate financial transactions using blockchain.
People can start donating by visiting the Toys for Tots Crypto Profile, select the currency they like to send, scan the QR code or copy the payment address into their self-custodial wallet application and complete the blockchain transaction in seconds. There will be no limitation on the amount.
The Marine Toys for Tots Program has been delivering a message of hope to less fortunate youngsters since 1947. Since then, the program has gifted 604 million toys to 272 million children across the U.S., Puerto Rico, and the U.S. Virgin Islands.
Over 97 percent of the donations go directly to the mission of providing toys, books, and other gifts to less fortunate children, with only 3 percent spent on support principally covers fundraising expenses.
Apart from Unbanked, crypto-donations firm The Giving Block is also offering similar services to the Marine Toys for Tots Foundation. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save people money.
Recently, The Giving Block raised more than $2.4 million on the biggest crypto fundraising day of the year dubbed as Crypto Giving Tuesday. This is the crypto version of Giving Tuesday, which is an internationally recognized day to contribute to charity before kicking off the holiday season. The first Tuesday after Thanksgiving is called Giving Tuesday.
Over the course of the day, donors gave more than $2.4 million in crypto to nonprofits and shattered last year’s record with 583 percent year-on-year growth.
Crypto Giving Tuesday also kicked off Bag Season, The Giving Block’s 31-day year-end fundraising campaign that is targeting more than $100 million in crypto donations this year.
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