Mexican Companies Launch Crypto Portal for Covid-19 Affected People

Mexican Companies Launch Crypto Portal for Covid-19 Affected People

Mexican crypto-currency exchange Bitso and crowdfunding site Donadora joined forces to introduce a crypto-based donation program. The network would support the neediest families impacted by the COVID-19 crisis to collect funds to buy food.

Each pantry delivered will be worth 150 Mexican pesos, according to a report published by El Heraldo de México on May 15th. They’ll have enough food for a week to feed families of between four and six.

All fiat currencies and various cryptos, such as Bitcoin (BTC), Ether (ETH), and XRP, are available as donation options.

Crypto donations are gaining popularity as a method of crowdfunding

The local exchange said crypto donations are a form of crowdfunding which is very effective. This is due to their decentralized nature and the fact that the initiative is open to anyone in the world.

After the announcement Bitso issued the following comments:

“Donations through cryptocurrency wallets are easy, fast, and secure. Transactions are reflected in seconds, making it a very transparent method to ensure that your donation was received.”

Crypto community continue to increase initiatives to battle COVID-19

Cointelegraph reported in April that the Italian Red Cross launched another crypto crowdfunding campaign. The campaign aimed at building an advanced medical post in Italy to combat COVID-19. The campaign has raised $10,000 successfully in four weeks.

Several crypto-businesses around the world have initiated similar projects related to the COVID-19 pandemic crisis such as Binance, BitMEX, and the Stellar Foundation.