Al Jalila Foundation, a nonprofit healthcare organisation in the United Arab Emirates, today announced that it has been granted approval to receive charitable donations in cryptocurrencies, making it the first healthcare charity in the UAE to accept donations in digital money.
Dr Abdulkareem Sultan Al Olama, CEO of Al Jalila Foundation, said:
As a philanthropic organisation we rely on charitable donations and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programmes. Therefore, as an emerging source of fundraising, providing the opportunity to the growing number of crypto users around the world to donate to Al Jalila Foundation to causes that interest them is a win-win for us as a foundation and the donor community. We are proud to be the first healthcare charity in the UAE to accept donations in cryptocurrencies bridging the gap between physical and digital currency.
In an interview with Al Roeya newspaper, DAMAC properties COO, Ali Sajwani, revealed that the property giant has completed cryptocurrency deals worth $50 million since the beginning of the year.
Sajwani commented that by accepting either bitcoin or ethereum as payment, DAMAC has shown the extent to which his company will go in order for it to benefit from the most advanced technology solutions.
“The payment process is made through a trusted financial intermediary approved by the Abu Dhabi Global Market, where the customer pays the value of the property in bitcoin or ethereum, as they are among the most traded digital currencies in terms of safety and trust, and then the financial intermediary transfers the amount to our digital wallet in dirhams or dollars.”
PayPal, the global payment company is working on bringing all possible blockchain and cryptocurrency integration to its services, Cointelegraph reports.
In his statement, Richard Nash, vice president of PayPal, said:
“Just walking slowly in the crypto shield with buys or holds in certain jurisdictions. [...] Looking to work with others to embrace everything we can, whether it’d be the coins that we have today in PayPal digital wallets, private digital currencies, or CBDCs in the future.”
Cointelegraph highlighted that PayPal is one of the world’s largest payment companies to have moved into crypto and blockchain in recent years. PayPal also announced its own crypto check-out service in March 2021. The fpayment giant is also considering launching its own stablecoin, named PayPal Coin.
Luxury Swiss watch brand TAG Heuer will now accept cryptocurrency as payment on US websites, The Block reports.
The company will accept 12 cryptocurrencies at checkout, including Bitcoin, Dogecoin, Ethereum, Litecoin, Shiba Inu, and 5 USD-pegged stablecoins.
Frédéric Arnault, CEO of TAG Heuer, said:
We have been following cryptocurrency developments very closely ever since Bitcoin first started trading. As an avant-garde watchmaker with an innovative spirit, we knew TAG Heuer would adopt what promises to be a globally integrated technology in the near future despite the fluctuations— one that will deeply transform our industry and beyond.
TAG Heuer will support more than 100 different crypto wallets and exchanges.
Citizens school, which is set to open its doors in September 2022, has announced that it will accept cryptocurrency as a mode of payment, Khaleej Time reports.
The institution will accept payments from the two major cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) aiming to provide parents with flexible payment options, apart from traditional forms of payments.
Dr Adil Alzarooni, founder of Citizens School said:
A while ago, cryptocurrency was only a floating term among well-versed investors. However, today cryptocurrency is becoming much more mainstream reshaping the traditional financial system. Similarly, Citizens is disrupting the education sector by re-imagining every element of the learning experience – be it the way our children learn, how we equip our teachers to be mentors, what our learners choose to wear, or the ways that parents can pay for tuition. By introducing this new payment facility, we look forward to enhancing the role of young generations in achieving the UAE’s digital economy. As more people embrace the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.