Munch, an up-and-coming decentralized finance (DeFi) project that lets investors give back a portion of their earnings to charitable causes, has officially partnered with The Giving Block — a move that could provide a significant boost to the rapidly growing crypto donations industry.
The new agreement connects The Giving Block’s growing community of crypto-ready nonprofits with the Munch network, which allows users to easily donate to causes they care about. The partnership will also enable new nonprofits to accept Munch donations directly and t create a profile on The Giving Block’s fundraising platform.
As Cointelegraph reported in early May, Munch raised over $1 million for developing countries represented by the GiveWell Maximum Impact Fund, which is dedicated to combating malaria and other diseases in Africa. According to Alex Wilson, co-founder of The Giving Block, Munch has now raised nearly $3 million in under two months. “Not only will this support amazing causes and deliver major impact, but it will continue to expose a new audience to cryptocurrency,” he said.
Rodrigo Silva, CEO of Munch, also commented on the new partnership:
“This partnership gives us the reach to offer our community more causes they care about. With our future development, this is set to do a tremendous amount of good for a lot of people.”
Crypto-focused charities continue to grow in popularity, as evidenced by the over $2 million in funding for Endaoment, a new charitable organization that aims to eventually function as a decentralized autonomous organization (DAO).
As for The Giving Block, the organization has ramped up efforts in the crypto donations industry, helping nonprofits like the American Cancer Society and others to begin accepting contributions in Bitcoin (BTC), Ether (ETH) and other digital assets. Back in April, The Giving Block launched the Crypto Giving Pledge to encourage more cryptocurrency investors to donate to charities.