RenPSG Partners The Giving Block To Enable Crypto Donations
Charitable platform provider RenPSG inked a strategic partnership with crypto-donations company The Giving Block to enable its donors to easily move cryptocurrency assets into new or existing donor-advised funds to support nonprofits and other charitable organizations. This partnership will provide an easy and convenient way to facilitate cryptocurrency donations.
RenPSG provides a custom donor-advised solution utilizing their proprietary philanthropic software platform DFX, which will be integrated with The Giving Block’s innovative donation technology. RenPSG will then begin offering this solution to its clients ahead of the end-of-year giving season to support the surge in crypto donations.
This will allow charities to accept more than 45 types of cryptocurrency, including Bitcoin, Ethereum, and Dogecoin.
“As more options become available for donating crypto, we will start to see philanthropy emerge as one of the main pillars of the cryptocurrency community at large,” said Alex Wilson, co-founder of The Giving Block.
In recent years, donor-advised funds or DAFs, have become the fastest-growing charitable giving method. DAFs enable donors to make charitable gifts that appreciate in value and pay out over several years. DAFs have also become popular among small-gift donors that wish to maximize the value of their contributions while benefiting from tax efficiencies.
By donating cryptocurrencies instead of traditional government-back currencies, individual donors in the U.S. and several other countries have the option to reduce their capital gains taxes.
Through this partnership, The Giving Block’s aim to empower charities to accept cryptocurrency, while RenPSG aims to remove friction in the giving process and make charitable giving more tax efficient for all donors.
Renaissance Charitable Foundation, Inc., a donor-advised fund sponsor, is the first of RenPSG’s institutional clients to accept crypto donations through the new partnership beginning this week.
The Giving Block recently announced it is on pace to process over $100 million in cryptocurrency donations in 2021 and projects $1 billion in cryptocurrency donations to be processed in 2022, with a number of major partnerships set to go live very soon.
Source: Read Full Article