Ripple Commits $25 Million In RLUSD Stablecoin To Support US Schools And Teachers
Ripple has pledged $25 million to support US classroom projects, students, and innovation in the education sector. The grant to education non-profits DonorsChoose and Teach for America is in Ripples U.S.-dollar pegged stablecoin RLUSD.
Ripple Spends RLUSD On American Education
On May 5, Ripple announced a $25 million donation to two U.S. education non-profit organizations. The grant will be processed through the crypto charity intermediary service, The Giving Block.
The initiative seeks to address educational resource gaps, as 55% of US parents and adults report dissatisfaction with the quality of K12 education in the United States, Ripple said, citing a 2024 Gallup survey.
With the donation, Ripple aims to provide resources that enhance academic outcomes, boost economic resilience, and help young Americans and educators flourish in a fast-changing job market.
Ripple has always championed financial and educational access for all, and were partnering with some of the most impactful organizations DonorsChoose and Teach For America to benefit thousands of classrooms across the US, Ripple CEO Brad Garlinghouse quipped.
The lions share of the funding will be transferred in the RLUSD stablecoin, making this one of the first large-scale nonprofit partnerships using a crypto-based stablecoin. Ripple rolled out its USD-pegged stablecoin in late 2024 to boost its payment infrastructure and rival existing stablecoins like Tethers USDT and Circles USDC. According to Ripple, using the stablecoin makes it possible to send money faster and more efficiently.
The donation will back a series of efforts, including classroom projects, teacher requests during Teacher Appreciation Week, Teach For Americas Ignite tutoring program, and a national STEM Innovation Challenge.
Teach For America CEO Aneesh Sohoni described Ripples support as transformative, adding that the funds will allow the NGO to extend its Ignite Tutoring Fellows program, drive innovation in our Reinvention Lab, and provide crucial financial assistance to prepare teachers.
Notably, charitable donations are not new in the cryptosphere. In March, Binance co-founder Changpeng CZ Zhao donated 1,000 BNB to the earthquake disaster relief effort in Thailand and Myanmar.
Text source: ZyCrypto
