Philippine Business for Social Progress (PBSP), a corporate-led NGO, has recently tapped the Philippine Digital Asset Exchange (PDAX) as its tech partner to enable its crypto donation drive through the exchange’s new Donate service.
The PDAX Donate service enables non-profit organizations, charities, and foundations to start accepting donations in the form of cryptocurrencies.
or the partnership, PBSP teamed up with PDAX to create a dedicated donation website where crypto users and supporters of the NGO can send their crypto donations from anywhere in the world. The donation portal serves as an additional global donation channel for PBSP, which is expected to boost the NGO’s social good programs.
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PBSP designs and implements programs and projects on health, education, environment, and livelihood that uplift the lives of Filipinos in need.
Crypto donations
The crypto donations to PBSP will be directly credited to the organization’s crypto wallet. The donated funds can then be held as crypto and can be converted to Philippine Pesos anytime to reduce exposure to price volatility.
Using PDAX Donate, PBSP can avail of a faster and cheaper channel for receiving crypto donations. The organization will also have no required minimum balance for maintaining its PDAX account and will be able to withdraw funds anytime.
“PBSP continuously explores new ways on how it can serve its target communities better,” said Elvin Uy, executive director, PBSP. “We believe that by adopting new technologies, PBSP can broaden its reach and make a meaningful difference in the lives of more Filipinos. We can also pursue more long-lasting social good campaigns and programs here in the Philippines.”
How PDAX Donate works
At present, foreign donors face limitations when sending funds to Philippine-based groups due to the lack of financial services allowing direct fund transfers. More often, these come with expensive fees and may take a few days to process.
With the PDAX Donate service, non-profit organizations can have access to a global community of donors and choose to receive crypto donations that can be easily sent by anyone from their crypto wallets, in real-time, and with lower transaction costs. PDAX Donate allows donors to send crypto donations using any of the 34 tokens currently offered by the platform including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), Tether (USDT), Cardano (ADA), Axie Infinity Shards (AXS), Smooth Love Potion (SLP), Dogecoin (DOGE), and Solana (SOL), to name a few.
This is made possible by the use of blockchain technology, which allows for real-time settlements with minimal transaction costs.
Crypto is now starting to be considered for global donations as more people use digital assets. Data from Triple A shows that as of 2022, there are around 320 million crypto users around the world including millions of Filipinos.
How to donate through PDAX Donate
- Donating through PDAX Donate is fast, simple, and instant. Donors can send any amount using any of the 34 cryptocurrencies currently available on the exchange’s mobile app.
- Go to the PDAX Donate and choose from our range of NGO partners.
- Select the crypto that you wish to convert to fiat then input your pledge amount.
- Provide your details and the purpose of your donation.
- Scan the QR code or copy the wallet address and send it from your desired exchange or crypto wallet to complete the transaction.