Crypto.com has announced that it will provide technological support to charitable organizations in Singapore. The platform aims to manage cryptocurrency donations, representing the interests and acting on behalf of local charities.

Participating organizations include The Salvation Army, Care Singapore, Cycling Without Age Singapore, Minds, Dementia Singapore, and Limitless. These organizations plan to accept donations in cryptocurrency, ensuring transparency in the process of converting cryptocurrency to fiat money and collaborating with Crypto.com on socially significant projects.

A representative from Crypto.com expressed confidence that their support for charitable organizations will attract the attention of technically savvy donors to support the socially vulnerable populations of Singapore.

It is also noted that the exchange has committed to preventing potential risks associated with user identification procedures and anti-money laundering efforts.

Previously, Crypto.com reported the successful completion of the second phase of licensing for CRO DAX Middle East FZE as a Virtual Asset Service Provider (VASP) under the Dubai Virtual Asset Regulatory Authority (VARA).