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Ripple donates $1 million to new partner Tipping Point to fight poverty




Breaking: Ripple donates $1 million to new partner Tipping Point to fight poverty
Source: Unsplash

Ripple, a blockchain-based payment solutions company, took a stance to help fight poverty by partnering with Tipping Point. This new partnership aims at providing a helping hand to poverty-stricken people in the Bay Area.

Tipping Point is making a conscious effort to help people in the Bay Area who are too poor to even meet basic needs, and this is achieved by partnering with local companies. Since, Ripple is San Francisco-based company, the partnership does not come across as a surprise. The leading fintech player granted Tipping Point $1 million to help them reach their goal.

Ripple stated on their official blog:

“As part of our partnership, Ripple will work collaboratively with Tipping Point to explore ways to make the Bay Area more financially equitable and inclusive…”

The report added:

“Ripple employees are eager to support Tipping Point and its grantees through their personal giving. Ripple already matches its employees’ donations to any nonprofit on a dollar-for-dollar basis. Now, when San Francisco based Ripple employees give to Tipping Point or any of its local grantees, Ripple will match their donations two-to-one.”

Apart from being the leader for a blockchain-based payment revolution, Ripple also launched an initiative, “Ripple for Good” last year. Ripple for Good is a corporate social impact program aimed at supporting mission-driven organizations and initiatives with the potential to expand financial inclusion worldwide. Ripple has already contributed to almost $100 million in donations under the Ripple for Good program.

Tipping Point is a non-profit organization that is trying to help the 1.7 million people in the Bay Area who are too poor to meet their basic needs. It was started in 2005 and has since raised more than $260 million to educate, employ, house and support those in need in the Bay Area.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


XRP/Ripple: R3’s Corda to further partnership with credit-union centric CULedger




XRP/Ripple: R3’s Corda to further partnership with credit-union centric CULedger
Source: Pixabay

The XRP community has added yet another accolade to its growing repertoire, with the inclusion of CULedger on R3’s Corda network. This partnership is a bid to expand the credit-union centric firm’s cross-border payment options.

A press release published on May 21 stated that the R3 Corda platform will greatly improve the payments realm for credit unions and financial cooperatives. The press release added that Corda will act as a foundation for CU Pay, the firm’s electronic funds transfer [EFT] product.

CULedger aims to leverage this partnership with R3 to help its credit unions better deal with the risks pertaining to cybersecurity, fraud, and malfeasance. In addition to this safeguarding, the association will boost “member experience, streamline internal processes and reduce administrative and operational costs.”

In lieu of this partnership, Corda Settler, the open-source Cor-DApp centered around the settlement of Corda transactions, will be integrated with CULedger and CU Pay. The press release adds,

“This will allow credit unions using CULedger’s network to choose from a variety of near-instant, secure and affordable domestic and cross-border payment options to meet theirs and their members’ needs.”

CULedger and R3’s relationship began in 2018 and now, the firm aims to further the same with the objective of CU Pay, which is pegged to launch in early 2020 and will be available for credit unions on their network.

David E. Rutter, CEO of R3 stated,

“Corda’s unique approach to privacy and security will support CULedger’s efforts to develop ground-breaking blockchain-based applications for self-sovereign digital identity and fraud detection. We look forward to working with them to create significant efficiencies for credit unions and their members.”

Adoption is reigning high for Corda, with several partnerships making the news. As per their official website, Corda has now partnered with almost 250+ organizations worldwide, and some of these partnerships include companies like Amazon Web Services [AWS], Citibank, HSBC, Huawei, Infosys, Capgemini, and Intel.

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