Ripple Partners with Madonna for Malawi Children's Fundraiser

Blockchain-based payments processor Ripple, announced its partnership with pop star icon Madonna for endorsing a fundraiser in Malawi, Africa.

Ripple is leaving no stone unturned for gaining relevance among the masses.

All donations are committed toward the Rising Malawi foundation, a non-profit organization owned by Madonna and screenwriter Michael Berg, and the Home of Hope orphanage.

Ripple was introduced to Raising Malawi by investors at Sound Ventures, a tech investment fund founded by actor Ashton Kutcher and Guy Oseary six years ago.

Ripple says it plans to match all raised donations with an equivalent amount of XRP. Since 2006, the foundation has helped more than 10,000 children by providing healthcare, education and establishing the first pediatric surgery and intensive care unit in the country.

According to from the International Monetary Fund, Malawi is amongst the world's poorest nations with 50% of its population living below poverty.

While Ripple maintains on several occasions it does not consider XRP a fundamental part of its business, the company controversially continues to donate large amounts of XRP. In March, Ripple donated $29 million to the non-profit organization DonorsChoose.org and in June, Larsen and Ripple CEO Brad Garlinghouse both donated to GiveCrypto- a crypto charity launched by Coinbase CEO, Brian Armstrong.

"We're honored to be a part of Raising Malawi's amazing work with some of the world's most underserved children and are grateful to our investors at Sound Ventures for making the introduction to us and this important cause."

Ripple's philanthropy is refreshing in a sector frequently hit with negative press, skepticism and an uphill battle for mass adoption.

It will be interesting to see what other philanthropic ventures Ripple will embark on in 2018.Cover Photo by Nathaniel Tetteh on Unsplash.