Popular digital asset provider, Ripple has invested $25 Million in leading education non-profit organizations, DonorsChoose and Teach For America. In a Monday blog post, the digital asset firm confirmed the development.
In the post, Ripple revealed that the $25 million would equip young Americans and educators with the resources needed to improve academic outcomes. Similarly, the funds will also help to foster economic resilience and help young adults thrive in a rapidly evolving job market.
The fund will also support initiatives in financial literacy, empowering students and educators across the US to build robust academic foundations and enhance economic mobility in a rapidly evolving job market. However, it is important to highlight that the $25 million grant will be donated in Ripple US dollar-backed stablecoin (RLUSD).
DonorsChoose and Teach For America CEO reacts to Ripple investment
Meanwhile, the CEO of DonorsChoose has reacted to the partnership. Alix Guerrier revealed the efforts put in place by teachers to improve their student’s quality of education. Guerrier added that some go as far as spending hundreds, thousands of dollars out of their pockets. The exec added that students will not only deepen their knowledge but will also be equipped with the right tools to guide them toward the right path.
Similarly, the CEO of Teach For America, also expressed gratitude to Ripple for their transformative support. The CEO, Aneesh Sohoni emphasized that the fund will help expand the Ignite Tutoring Fellows program and drive innovation in their Reinvention Lab. He also added that Ripple’s partnership will aid in achieving its goal of ensuring that every child has access to excellent education.
Since its founding in 2018, the digital asset firm has made a significant impact by contributing over $200 million to various global initiatives. Just last month, it partnered with HashKey Capital to introduce HashKey XRP Tracker Fund. As revealed, the Tracker Fund also availed professional investors the flexibility to purchase shares through both cash and in-kind subscriptions.
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