Ripple, a financial technology company that offers crypto solutions for businesses, announced that several of the world’s development and humanitarian nonprofit organizations – including World Central Kitchen, Water.org, GiveDirectly, and Mercy Corps – are leveraging Ripple Payments and the Ripple USD (RLUSD) stablecoin to help improve the overall transparency and impact of aid delivery and funding.
Nonprofits are seeking better ways to move funds efficiently—especially when responding to needs in areas with “limited infrastructure.”
With Ripple Payments, a platform powered by blockchain tech, organizations can send money across borders in “seconds, 24/7/365, without relying on traditional banking systems.” Ripple’s platform lets nonprofits access the benefits of digital assets “without having to directly manage crypto themselves.”
Pairing the platform with Ripple’s U.S. dollar-backed stablecoin, RLUSD, provides an efficient way to “deliver aid and enable new models for financial inclusion and disaster relief.”
Innovation lies at the core of World Central Kitchen’s (WCK) mission to respond swiftly to communities in crisis. Since 2020, Ripple supported WCK in delivering “millions of meals to communities and first responders impacted by natural disasters.”
Building on this partnership, WCK is leveraging Ripple Payments and RLUSD to accelerate the disbursement of funds “to local restaurants and partners in regions without banking infrastructure—enabling faster, more transparent delivery of critical support.”
Water.org, a nonprofit founded by Gary White and Matt Damon, reportedly improved access to safe water or sanitation for millions of people.
After piloting Ripple Payments to send funds to microfinance partners in Brazil, Mexico, and Peru, the organization intends to run all of its Latin American transactions via Ripple’s platform.
By leveraging Ripple Payments platform, Water.org is able to move funds faster and more cost-effectively to support loans for water and sanitation solutions.
Ripple is also working cooperatively with nonprofit partners on pilot programs testing RLUSD in applications such as parametric insurance for unbanked populations and anticipatory cash transfers.
This work is said to be a testament to the potential of stablecoins to transform the financial ecosystem.
By providing an efficient alternative to traditional remittance services, stablecoins are able to increase the amount of money recipients receive, “boosting economic resilience for billions of underbanked and unbanked communities.”
With RLUSD now reportedly exceeding a $900 million market cap in about a year since launch, Ripple is demonstrating that enterprise-grade stablecoins can scale. This is a core part of Ripple’s goal to enable an inclusive global economy.