Ripple Donates $25M to Support Education in the United States

Ripple, a leading company in digital asset infrastructure, has announced a $25 million donation to support education in the United States.

Crypto company Ripple is donating $25 million to support education in the U.S. The company will be making the donation in its stablecoin, Ripple USD (RLUSD), to two primary education charities, DonorsChoose and Teach For America.

This marks the first time that the two organizations will accept contributions through stablecoin payments.

The donation comes as many public schools in the U.S. are facing funding shortages. Several studies have also shown that many classrooms lack basic tools needed for students to succeed.

Gallup’s 2024 survey showed that American adults and parents expressed an approval rating of less than 50% for primary and secondary education.

Ripple’s donation will go towards supporting critical educational initiatives. It will be used to fund programs such as classroom projects and national tutoring services, STEM challenges, and financial literacy courses. These programs aim to improve learning outcomes and prepare students for future career opportunities.

What’s unique about this monetary donation is that it will be made using stablecoin technology. A digital money, stablecoin maintains its value by being pegged to the U.S. dollar.

Experts have noted that the adoption of stablecoins in digital payment is increasing. According to analysis firm Chainalysis, stablecoins make up more than half of all transactions on blockchains.

The growing use of digital currency for charitable donations could see it become a mainstream method for philanthropy in the future.

“Financial inclusion and education have been core values at Ripple since our founding,” said Brad Garlinghouse, CEO of Ripple. “DonorsChoose and Teach For America share Ripple’s passion for making a difference and they’ll be able to support thousands of schools and teachers across the country with this donation. We hope to inspire others to give back as well, especially in celebration of Teacher Appreciation Week, which begins now.”

The donation will support activities that take place throughout the entire year. It also aligns completely with Ripple’s purpose of driving social impact.

A portion of the funds will be used to teach financial literacy to students and teachers at schools.

“We are incredibly grateful to Ripple for this generous donation, which will make a real difference in the lives of teachers and students across the country,” said Alix Guerrier, executive director of DonorsChoose.org.

“Teachers often use their own personal funds to purchase essential supplies for their students, and this donation will help to ensure that teachers have the resources they need to create engaging and effective learning experiences.”

“We are deeply appreciative of Ripple’s support for Teach For America’s mission to expand opportunity for children in low-income communities,” added Aneesh Sohoni, chief executive of Teach For America.

“This contribution will be instrumental in supporting our programs to recruit and prepare outstanding teachers and provide them with ongoing mentorship as they lead students toward academic excellence.”