International recording artist Madonna is working with cryptocurrency startup Ripple to raise money for orphans in Malawi, in the latest charitable good to benefit from the crypto industry.
Ahead of her 60th birthday celebrations, Madonna announced a fundraising drive for Raising Malawi, the charitable organization she set up with writer Michael Berg back in 2006. The group works with the Home of Hope, an orphanage in the African country.
As part of the agreement, Ripple, the company behind the XRP token, has said it will match any donations raised, which had risen to as much as $26,000 in the first two days of the campaign.
Senior vice president of business operations at Ripple, Eric van Miltenburg, said Ripple was delighted to support such a worthy cause.
“We’re honored to be a part of Raising Malawi’s amazing work with some of the world’s most underserved children and are grateful to our investors at Sound Ventures for making the introduction to us and this important cause.”
“Ripple and its executive team care deeply about giving back and eliminating barriers that keep marginalized populations from being a part of our global community. This means fostering programs for financial inclusion, improving access to fundamental human services, empowering teachers and supporting primary education, and promoting environmental literacy and conservation.”
The fundraising campaign is set to run throughout August, with a target of $60,000 to be raised over the period. Announcing the fundraising drive, Madonna said the project was a way of “connecting my global family with this beautiful country and the children who need our help most.”
Malawi is one of the world’s poorest countries, with one in two people living below the International Monetary Fund’s definition of the poverty line. The funds will support Raising Malawi’s work with the orphanage, which cares for children orphaned by HIV and AIDS.
According to a post announcing the collaboration on Ripple’s blog, the funds raised will help Raising Malawi continue providing “direct healthcare services and educational support, including materials, classes and funding scholarships” to the children.