Cryptocurrency exchange Binance, via its philanthropic arm Binance Charity Foundation (BCF) is opening a new fundraiser to support the disadvantaged children and terminally ill patients in Malta.
The proceeds of the funds will go to the Malta Community Chest Fund Foundation, the National Charity of the European country.
The Fundraiser Begins
The Malta Community Chest Fund Foundation will provide professional, material and financial support to help 15,000 individuals and families in the country.
The L-Istrina Campaign is the fundraising channel where donations from the BCF will go.
BCF operates as a fully transparent charity, and all donations to the platform are tracked on the blockchain.
The total sums of the donation will be announced during L-Istrina, a 12-hour internationally televised charity telethon.
Leading cryptocurrency project Tron has committed to donating $100,000 to the cause. Binance has also committed $100,000 to the fund.
Maltese president Marie-Loise Colerio Preca said that BCF donations would provide a perfect opportunity for companies in blockchain and crypto to work on their social responsibility values.
He said that it is also an opportunity for these companies to show that blockchain can be utilized for social good.
Binance and Tron Speak Up
Changpeng Zhao, Binance CEO commented on the platform’s initiative, saying:
“Binance is just doing our part to contribute to people who are in need. Charity is one of those areas where everyone should help out if they can. With blockchain technologies, we can solve the transparency problem in charity – increasing the amount of charity people will do. I hope to encourage more people in the space to use crypto for social good.”
Tron founder and CEO Justin Sun said that Tron believes in the enormous potential of blockchains for social good.
He said that their partnership with Malta and BCF is one of the many ways in which they accomplish change.
The National Charity of Malta works for families and individuals who are facing issues like sickness, disability, and economic vulnerability.
It provides medical assistance, advisory services, financial services, social assistance and out-of-home care for the young.