A crypto exchange and a crowdfunding platform launch a crypto-based donation system to fight COVID 19 in Mexico.

According to a report published by El Heraldo de México, Mexican crypto exchange Bitso and a local crowdfunding platform Donadora have come together to launch a crypto-based donation system. The donations received in cryptocurrencies will be used to fight the ongoing coronavirus pandemic. According to the report, each pantry delivered will be worth 150 Mexican pesos, which would be enough to feed families of between four and six members for a week.

 

The platform would accept donations in BTC, ETH, and XRP.

Donation options by the crowdfunding and crypto exchange platforms include both fiat currencies and various cryptos, such as Bitcoin, Ether, and XRP. The Mexican crypto exchange stated that crypto donations are a very efficient method for crowdfunding because of their decentralized nature and the fact that anyone in the world can participate in the initiative. The exchange said in a statement that donations via crypto wallets are easy, fast, and secure. Transactions are reflected in seconds, making it a very transparent method to ensure that the contribution was received, it added. 

 

Crypto companies step up to fight COVID 19 around the world.

The current pandemic has taken thousands of lives and derailed the world’s economy. Crypto companies around the world have stepped up and donated funds and other essential things to help fight the coronavirus pandemic. The CEO of one of the world’s leading crypto exchange Binance, Changpeng Zhao, announced in a tweet that his company has pledged to donate $1.5 million to help the victims of the coronavirus in Wuhan, China in January. Binance has also set up a charity fund to help fight the coronavirus pandemic. Several other crypto companies, including Tron, Stellar Foundation, and several others. The crypto derivatives exchange, BitMEX, announced the donation of $2.5 million to four organizations that are leading the fight against COVID19. 

So far, over 4.6 million people have been diagnosed with the virus, and over 308,000 people have lost their lives. The number of infections in some countries has slowed down, but it is still growing exponentially in most countries.