Compassion International – a leading company platform in the field of child development and one of the biggest nonprofits in the United States – has partnered with Engiven, Inc. The purpose? To establish a system that will allow it to accept crypto donations in the future.
Compassion International Gives a Greenlight to BTC Payments
Engiven is a cryptocurrency donation platform, and it is working to bring the reality that was always designed for bitcoin and its digital counterparts closer to existence. What many people may not realize is that while bitcoin is a great speculative asset – or by today’s terms, a great hedge tool – the asset was initially built to push credit cards, checks and fiat currencies to the side and ultimately serve as the world’s primary payment tool.
This has been a slow journey for the cryptocurrency given that it – along with several of its virtual brethren – is often prone to heavy price swings and volatility. Thus, many stores are not willing to give the greenlight to crypto payments out of fear that they will somehow miss out on profit, and to a degree, we cannot blame them.
Say, for example, you walk into a store and buy $50 worth of merchandise with bitcoin. Well, for whatever reason, the store does not convert that money into fiat over the next 24 hours. Within that time, the price of BTC goes down and that $50 turns into $40. You’ll still walk away with everything you bought, but the store winds up losing ten dollars, which isn’t entirely fair to those in charge.
This is the main reason why so many retailers and companies have looked to avoid crypto payments, but Engiven and Compassion International are looking to bring about a certain level of change. Yaro Hetman – senior director at Compassion – explained in an interview:
We’re so grateful to partner with Engiven to better serve our supporters. Crypto donations continue to rise each year, and this initiative will be instrumental in opening the door to many prospective supporters and enabling us to serve their giving preferences… We’re eager to offer cryptocurrency donations as another option in our battle to defeat poverty.
James Lawrence – the co-founder and CEO of Engiven – also threw his two cents into the ring, saying:
Engiven’s team has personally supported Compassion’s mission for many years, and we’re excited to come alongside them as their partner to make cryptocurrency an important part of funding their mission.
Opening the Door to the Future of Finance
Lastly, Wally Tsuha – founder and president of Tsuha Capital and the Tsuha Foundation – mentioned:
Compassion International has an incredible mission that impacts the lives of so many children around the world. My cryptocurrency donation reflects my heart for supporting Compassion’s efforts while receiving the tax benefits that donating appreciated crypto can provide. It’s a win-win, and I’m so thankful that Engiven now enables me to support Compassion International.