Tipping Point is headquartered in the Bay Area in San Francisco, and works towards several different charitable causes. This particular donation from Ripple will be used to combat poverty in the area, and to “help individuals and families struggling to meet their basic needs.”
According to the announcement, Tipping Point has raised more than $150,000 since 2005, and helped over 21,000 individuals who have suffered from poverty.
The blog post reads:
As part of our partnership, Ripple will work collaboratively with Tipping Point to explore ways to make the Bay Area more financially equitable and inclusive. We’ll put our heads together with experienced leaders from Tipping Point and its amazing grantee organizations to focus on increasing upward economic mobility for Bay Area workers and families.
Any donations by San Francisco-based employees to Tipping Point or its local grantees will also be matched by the company on a 2:1 basis.
This isn’t Ripple’s first initiative to do good.
Last year, Ripple launched the Ripple for Good initiative, a $100 million commitment that focuses on educational and financial inclusion goals, in addition to STEM, fintech education and financial literacy. This is accompanied by funding in the University Blockchain Research Institute, a collaboration with several of the world’s top universities to increase awareness and the availability of educational resources in blockchain technology.
The entity has also donated $29 million worth of tokens to public schools.
Ripple’s charitable efforts are extensive and long-standing, and the $1 million in funding will surely be a great boost to Tipping Point’s mission.
Meanwhile, Ripple’s general development and exposure has been doing well in recent times. The XRP token was made available for trading on Coinbase, with some uproar accompanying it, and the head of SBI Holdings, a backer of Ripple, has grand ambitions for Ripple.