Singapore-based global cryptocurrency exchange KuCoin announced on Wednesday it has teamed up with Cashaa, a blockchain-based financial platform, to combat the COVID-19 crisis in India. KuCoin reported that as part of its charity initiative in India, the crypto platform has pledged ₹2 million worth of food and daily supplies, and these goods will be delivered to the families in need with the help of Unicas, a crypto bank powered by Cashaa.
“The first batch of food and daily supplies including wheat, rice, dal and salt has started to be distributed to people in Jaipur, Delhi, and Patna earlier today, and more families will be covered in the following days. It is noticed that each ration kit will be able to feed a family of four for up to two weeks.”
While sharing more details about the initiative, Johnny Lyu, CEO at KuCoin Global, stated:
“Knowing its outbreak in India and considering the daily nutritional needs are at the edge for millions of people during the quarantine, as the People’s Exchange, we are pleased to take our responsibility to help local people address these challenges brought by the COVID-19.”
Dinesh Kukreja, CEO of Unicas, then added:
“Unicas started the initiative #NoOneSleepsHungry to address the root cause of hunger and that it does not become the reason for anyone to suffer amidst the ongoing COVID-19 crisis. With our distribution of 1,000 ration kits with essential food supply, the campaign has positively affected the lives of several people in Jaipur, however it’s not enough. We are grateful to join hands with KuCoin to facilitate the underprivileged and needy in these dire times and extend this initiative to two other cities and provide support to 2,000 families.”
Founded in 2017, KuCoin claims it has grown into one of the most popular crypto exchanges, and it currently provides a series of financial services including fiat-to-crypto, crypto-to-crypto, futures, staking, borrowing, token launch, and more to its five million users across more than 200 countries and regions around the world. One out of four crypto holders worldwide is with KuCoin.
