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Editing by Nathaniel Cajuday
Homegrown cryptocurrency exchange Philippine Digital Asset Exchange (PDAX) has announced that it has partnered with one of the largest corporate-led non-government organizations (NGOs) in the country, the Philippine Business for Social Progress (PBSP), to be the NGO’s tech partner and leverage the exchange’s new Donate service to bring its crypto donation drive to life.
In a statement, the two entities revealed that the reason why PBSP coordinated with PDAX is to create a dedicated donation website that would allow crypto users and supporters of the NGO to 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,” they wrote.
Accordingly, they assured that all of the crypto donations to PBSP will be directly credited to PDAX’s crypto wallet which will hold the donations as crypto or can be converted to fiat anytime to reduce exposure to price volatility.
Through PDAX donate, the NGO can also utilize the platform as a faster and cheaper channel for receiving crypto donations. They will also not be required to have a minimum balance for maintaining their PDAX account and will be able to withdraw funds anytime.
“PBSP continuously explores new ways on how it can serve its target communities better. We believe that by adopting new technologies, PBSP can widen 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,” PBSP Executive Director Elvin Uy stated.
PBSP is an NGO that focuses on designing and implementing programs and projects on health, education, environment, and livelihood that uplift the lives of Filipinos in need.
As promising as it gets, the PDAX Donate currently supports limited access as foreign donors may face restrictions when sending funds to Philippine-based groups due to the lack of financial services allowing direct fund transfers, noting that this may be due to expensive fees and may take a few days to process.
To date, 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. (Read more: PDAX Adds Nine New Crypto to Its App)
Last July, PDAX launched PDAX Donate to allow its users to directly send crypto donations to the PDAX wallet of a non-government organization (NGO), charity, or foundation that they want to help. (Read more: PDAX Unveils ‘Donate Service’ for Donation Drives of NGOs)
How to donate through PDAX Donate
- Go to the PDAX Donate and choose from the exchange’s 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.
To know more about sending crypto donations to PBSP visit PDAX Donate.
This article is published on BitPinas: Philippine Business for Social Progress Teams Up with PDAX for Crypto Donation Drives
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.