Ripple announced it has donated $29 million for the development of public schools in the United States.
With the third largest digital currency in terms of “capitalization”, Ripple decided to support the development of American public schools through a donation of 29 million dollars.
“Every Rippler, from the executive team to our newest hires, started their careers in one place — the classroom,” wrote the company in an official blog post yesterday. “It’s in this pivotal setting that children’s dreams are forged and legacies begin.”
This donation was made in the form of XRP, the digital asset that aims to revolutionize cross-border payments.
The donation was awarded to DonorsChoose.org, a non-profit organization based in the United States. DonorsChoose.org provides grants for projects related to public schools.
Here’s what Ripple said:
“Our donation yesterday made it possible to answer all the requests present on the site of the association. Nearly 30,000 public sector teachers from all states and about one million students will receive books, school supplies, technological equipment, educational outings, and other resources essential to learning through DonorsChoose.org. “
But, at the same time, not everything seems to be going well for XRP.
The potential appreciation of the XRP was recently questioned by the rating agency Weiss Ratings, which considers the dependence of this altcoin to the agreements made with major financial institutions implies risks.
It also noted that, since Ripple is not a public company, XRP holders cannot claim a share of the company’s potential profits.
Finally, the strong centralization that would prevail on the Ripple network is an element that is frequently criticized by others.
Despite these gray areas, many investors remain confident about the future of the digital asset.
As Ripple has recently formed partnerships with many financial institutions, it is likely that XRP could soon see a price rise.