Circle and Endaoment bring a disaster relief fund

Circle, the business that developed the USDC stablecoin, announced a collaboration with public charity organization Endaoment to establish a disaster relief fund. The fund will be used to assist communities in the mid-western United States that were hit by fatal tornadoes last week. The two organizations seek to raise $1 million in grant money to benefit the American Red Cross and other local non-profits through their efforts.

Participants in the Endaoment blockchain community will be able to directly contribute USDC or other cryptocurrencies through their connected wallets, with a minimum payment of $20. A total of $200,000 will be distributed in increments of $20,000 to seven participating charities, including the Team Western Kentucky Tornado Relief Fund, All Hands and Hearts, the Team Rubicon, the Center for Disaster Philanthropy, the American Red Cross, the Midwest Food Bank NFP, and Mutual Aid Relief. About $4,600 in donations have been made to the fund at the time of writing.

As TheCoinRise reported, Circle recently said that it is ready to cooperate with the SEC’s ongoing investigation.

Endaoment praises Circle for the support

Endaoment’s founder and CEO, Robert Heeger, said about the collaboration that it is because of amazing partners like Circle that the companies have been able to make donations totaling more than $11 million to over 300 charity organizations this year. He added:

“With Circle’s support, we can expand our reach and continue to empower the community to allocate charitable gifts to causes in need of funding autonomously.”

Tornadoes with wind speeds up to 150 mph (241.4 km/h) raced across the Midwestern and Southern states of the United States the week before, causing widespread damage. Kentucky was one of the most suffered states, with more than 74 people killed and over 100 people still missing due to the storm.

https://twitter.com/travisakers/status/1470356290245259266

The CEO of the USDC creator recently said that the company supports the stablecoin issuing policies.