- The Al Jalila Foundation has joined other well-known humanitarian organizations.
- A third of the population in the UAE owns digital money.
The Al Jalila Foundation, a United Arab Emirates (UAE) healthcare foundation, has been granted authority to accept digital money, and well-wishers may now contribute through cryptocurrency. Al Jalila Foundation has become one of the first charitable organizations in the United Arab Emirates to accept cryptocurrencies.
Unifying the Worlds of Fiat and Digital Money
Additionally, Al Jalila Foundation announced it had worked with an unidentified “leading cryptocurrency platform” in a statement recently issued.
Foundation CEO Abdulkareem Sultan Al Olama stated:
“As a philanthropic organization we rely on charitable donations and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programmes. Therefore, as an emerging source of fundraising, providing the opportunity to the growing number of crypto users around the world to donate to Al Jalila Foundation to causes that interest them is a win-win for us as a foundation and the donor community.”
For his part, Olama applauded the Al Jalila Foundation’s decision to accept cryptocurrency contributions, calling it a “first” in the country and a step toward unifying the worlds of real and digital money. The Al Jalila Foundation has joined other well-known humanitarian organizations like Save the Children is accepting cryptocurrencies as payment.
The Al Jalila Foundation, which has purportedly generated millions of dollars since its foundation in 2013, now has a way to attract money from Millennial and Gen-Z contributors by accepting cryptocurrency payments. In the United Arab Emirates, a third of the population owns digital money. According to the Dubai Media Office, the United Arab Emirates sees roughly $25 billion worth of cryptocurrency transactions each year.
