The Giving Block Announces Treasury Support Services, Enables Nonprofits to Invest in Cryptocurrency
The Giving Block, the leading Crypto Philanthropy platform connecting nonprofits with crypto donors, announced Treasury Support Services for nonprofits looking to custody or invest in cryptocurrency. The service will be facilitated through Gemini, a security-first platform that allows customers to buy, sell, store, and earn on cryptocurrencies.
Cryptocurrency donations made to nonprofits through The Giving Block were traditionally converted to U.S. dollars immediately. The Treasury Support Service now gives nonprofits the opportunity to maintain a position in the cryptocurrency that was donated and invest in additional cryptocurrency, which means that some or all of the cryptocurrency donated can be stored in a secure custody wallet for sale at a later date. Additionally, nonprofits can now choose to earn up to 5% APY* on USD denominated holdings. (*Yield % is not guaranteed and is subject to adjustment based on market forces.)
This initiative is facilitated and supported by The Giving Block Institutional, a consultative service led by a team of experts with extensive industry experience spanning cryptocurrency, philanthropy and traditional capital markets. With over 60 years of combined experience, The Giving Block Institutional team eliminates the need for nonprofits to hire internal financial and operations experts in order to invest in and earn against their cryptocurrency.
“Offering Treasury Support Services is a paradigm shift for our platform clients because we take the headache and overhead out of leveraging an entirely new fundraising stream. We enable our clients to focus on their core mission,” states Duke Kim, Director of Institutional Client Solutions.
This announcement follows the recent news that The Giving Block has partnered with Ren, North America’s leading independent philanthropic solutions provider, to offer the country’s first-ever donor-advised fund that allows donors to invest a portion of the fund’s investable assets in cryptocurrency. Both initiatives are facilitated and supported by The Giving Block Institutional.
Treasury Support Services are currently available to all nonprofits, even those that are not currently accepting cryptocurrency through The Giving Block’s platform.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.