Fidelity’s charity unit includes XRP to its list of accepted cryptos for donation; hits $100 million-mark

Cryptocurrency • August 19, 2019, 7:30AM EDT
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Fidelity Charitable, the financial services giant’s charity unit, is now accepting XRP, the world’s third-largest cryptocurrency, for donations.

Until now, the unit accepted only four cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC), having launched the form of donation back in 2015, according to an announcement shared with The Block late last week. 

Since the launch, Fidelity Charitable has received more than $106 million in cryptocurrencies. Last year, it received a lesser amount at $30 million in crypto donations as the cryptocurrency market saw a significant hit.Source: Fidelity Charitable 2019 Giving Report 

The charity organization further said that non-publicly traded assets such as cryptocurrencies and real estate help donors save 20% more in capital gains taxes.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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