Fidelity Adds XRP To The List Of Supported Cryptos For Charitable Donations
Ripple has been working a lot this year to promote the XRP ecosystem.
XRP is in the spotlight again after Fidelity Charitable added the coin to its list of digital assets. From now on, donors can make contributions using the coin.
The announcement reveals that “The addition of Ripple expands the existing array of assets, including bitcoin, that donors can contribute into their donor-advised funds to fuel their philanthropy.”
People can increase charitable offers with crypto donations
Crypto donations offer people a way to increase their charitable offers.
The online publication the Daily Hodl notes that such gifts are exempt from paying capital gains taxes.
The 501(c)(3) charity receives the full value of a donor’s contribution.
The online publication details the issue and we recommend that you head over to the original article and check out more details.
The organization states that there’s another upside to making donations using cryptos such as BTC and XRP to Fidelity Charitable which has a donor-advised fund program.
It seems that participants can recommend how the contribution is invested and potentially grow it tax-free.
After adding XRP, Fidelity Charitable now supports the world’s top five cryptocurrencies: Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC).
XRP adoption intensifies – Ripple invested 1 billion XRP in Coil
XRP was recently in the spotlight again after Ripple invested in Coil.
Senior vice president of Xpring Ethan Beard believes that traditional ways of advertising and website subscriptions can be finally disrupted.
He also said that the speed of XRP makes it perfect for Coil users.
He added that XRP is able to help the Coil platform provide an alternative way to monetize content while also having a positive impact on creators.
“At Xpring, we build infrastructure and support projects that enable the Internet of Value and increase the utilization of XRP.”
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.