- Ripple Labs is giving $25M to fund the creation of classroom resources and educational programs in the U.S.
- The modern charitable donation is done through Ripple’s stablecoin RLUSD.
- Both the students and the teachers are supported by the Ripple Lab’s partnerships with DonorsChoose and Teach For America.
Ripple Labs, a big name in blockchain, is so convinced of the power of education that it is putting up $25 million to fund it across the U.S. Ripple USD (RLUSD) is the main currency for which the donation was made to two well-known organizations (DonorsChoose and Teach For America).
The purpose of this contribution is to improve teacher knowledge and their students’ learning conditions with the intention of preparing them for a changing job market.
Classrooms Nationwide Struggle With Resource Shortages
Many classrooms across the U.S. remain bereft of basic supplies, with the funding gaps taking up teachers’ money. Ripple Labs is making donations for the purpose of resolving these challenges, so as to support classroom needs and success through academics.
Ripple CEO Brad Garlinghouse assured that the company is determined to provide access to financial tools and education. By working with DonorsChoose and Teach For America, Ripple Labs said it wants to have a lasting impact on thousands of classrooms and spread the word.
This move is believed to have happened at no perfect time than now, because it is during the Teacher Appreciation Week. It’s therefore reflecting Ripple’s respect for teachers and everything they do.
Ripple Labs Uses its RLUSD Stablecoin for the Funding
The unique aspect of this donation is that Ripple Labs is using its stablecoin, RLUSD. With the use of RLUSD, Ripple is enabling modern digital finance to be used for charity. These crypto donations will be handled efficiently by nonprofits via platforms such as The Giving Block.
The money will be used throughout the year to fund classroom projects, expand tutoring programs, and encourage science and technology education innovation. The donation will fund the Ignite tutoring program and training planned by Teach For America, which will support new teachers in the sector.
It will also help DonorsChoose to fund thousands of teacher-requested projects around the country, so that they will be able to provide classroom materials and learning tools.
Praises for Ripple’s Philanthropic Mission
Meanwhile, Teach For America CEO Aneesh Sohoni hailed the donation as ‘transformative’ because it will improve student support and teaching programs across the country. Ripple is using its success with crypto to benefit the world.
In fact, since 2018, Ripple has donated over $200 million to global causes with the support of many employees.
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