Ripple Donates $25 Million Worth of RLUSD, Here’s Where It Is Going

SBI chief executive Yoshitaka Kitao has highlighted a generous multi-million RLUSD donation made by the Ripple giant to a major new partner, which represents one of the fundamental industries for the future of the United States.

Ripple donates $25 million RLUSD to top educational nonprofits

In his X post, Kitao shared a link to a blog post recently published by Ripple, saying that it has made a generous donation of $25 million worth of its dollar-backed stablecoin RLUSD to DonorsChoose and Teach for America — two leading American nonprofit education organizations.

The article refers to this move as a “blueprint” of how stablecoins can make supporting various communities globally in a smarter, faster and more inclusive manner.

This donation has provided a way to fund more than 31,000 classrooms, supporting more than 21,000 teachers in 13,000 schools in the country. Besides, from the same $25 million, stipends will be paid out to almost 300,000 students.

Ripple stressed that this RLUSD donation will “support expanded financial literacy efforts, equipping students and teachers across the country with the knowledge and tools to succeed in a rapidly evolving job market.” Besides, it will help to reimagine American education, the blog post stated.

Ripple’s report says that, over the past few months, stablecoins have been playing a significant role in digital finance, accounting for more than 50% of all on-chain transaction volume. The potential areas of their use include humanitarian aid, philanthropy and financial inclusion.

This is largely possible thanks to stablecoins providing seamless and cheap transactions with a high level of transparency, and they run nonstop, 24/7.

Early Bitcoiner Rochard slams Ripple CEO over his CBDC support

On Monday, an early Bitcoin supporter and CEO of the Bitcoin Bond Company Pierre Rochard responded to a tweet by Brad Garlinghouse, in which the Ripple CEO addresses Senator Lummis regarding the meeting with him that she canceled. That tweet was about championing “sensible pro-crypto legislation around stablecoins” and making the U.S. government focus not only on Bitcoin but on a “multi-chain crypto industry.”

Pierre Rochard slammed Garlinghouse for supporting central bank digital currencies (CBDCs) and speaking against Bitcoin only when it came to the strategic crypto reserve. Rochard said that Garlinghouse had ruined his own reputation with this. “Nobody takes you seriously anymore,” he added.