CALIFORNIA – Ripple, creator of the XRP cryptocurrency and Ripple USD (RLUSD) stablecoin, announced, May 5 that it committed $25 million in stablecoins to education groups DonorsChoose and Teach For America.
The announcement came at the start of Teacher Appreciation week.
RLUSD is a U.S. dollar-pegged stablecoin launched by Ripple in December 2024. It allows for fast cross-border payments, low fees, and programmability.
The California-based company said it is partnering with DonorsChoose and Teach For America to fund classroom projects, tutoring programs, and STEM challenges.
“Ripple has always championed financial and educational access for all, and we’re partnering with some of the most impactful organizations – DonorsChoose and Teach For America – to benefit thousands of classrooms across the U.S.,” said Ripple CEO Brad Garlinghouse.
Stablecoins make up over half of all recent crypto transactions
Ripple said DonorsChoose and Teach For America will accept the majority of the $25 million grant in RLUSD, as stablecoins are emerging as a practical method for sending money.
According to Chainalysis, stablecoins make up over half of all recent crypto transactions.
RLUSD has seen significant growth since its launch, with its market capitalization reaching $244 million by early April. This represents an 87% increase from its debut in December.
However, RLUSD’s freeze and clawback features, meant to meet legal requirements, have sparked worries about how they affect decentralization in cryptocurrency.
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