On February 15, the leading fintech company and an issuer of the cryptocurrency XRP announced its plan to give $250,000 to NGOs in Turkey and Syria to help victims of the massive 7.8-magnitude earthquake that struck the region on February 6. According to the USAID report released on February 12, the disaster killed at least 33,905 people and collapsed around 8,400 buildings.
Ripple also set up a donation fund on the Crypto for Charity platform and promised to double all crypto donations up to $750,000.
Ripple plans to support four non-governmental organizations and divide the collected funds evenly. The said NGOs are World Central Kitchen, which distributes meals to survivors in Turkey, and Mercy Corps, which provides essential supplies to victims in Syria.
Then there are also The International Rescue Committee (IRC) and Mercy Corps that assist victims in both countries. Mercy Corps specializes in distributing hygiene kits, warmth supplies and other essentials, while IRC also provides health services and sets up emergency shelters for children and women.
Several crypto companies pledged substantial sums to aid relief efforts in Turkey and Syria. Immediately after the tragedy, Binance responded with a $5 million BNB donation.
Shortly after the disaster, Tether, Keet, Bitfinex, OKX, KuCoin and Avalanche also raised millions of dollars to help victims.
Meanwhile, Turkish non-profit Ahbap Association helped the crypto community to contribute anonymously by setting up wallets on several popular chains.
The Central Bank of Turkey banned the use of cryptocurrencies as a means of payment in 2021 due to the significant risks of irrevocable transactions and illegal activities involving such assets. However, according to the February 7 Twitter post made by the founder of Ahbap Association, singer Haluk Levent, the Financial Crimes Investigation Board (MASAK) had approved the charity's initiative.
At press time, Ahbap’s Ethereum wallet has received the most donations worth $2.348 million. Financial contributions made through the BNB chain reached $2.279 million. Meanwhile, the Avalanche wallet has received $1.08 million.