Issuer XRP company Ripple and cryptocurrency payment service MoonPay donated stablecoins to help fight fires in the US state of California.
Employees Ripple and MoonPay donated dollar-pegged coins to the Los Angeles Fire Department Ripple USD (RLUSD) worth $50,000. Rescuers, who are being called heroes in the current emergency, thanked the organizations for providing financial support during the crisis.
Drought and strong winds caused wildfires to spread quickly in Los Angeles, and fires destroyed entire neighborhoods such as Pasadena and Calabasas. More than 200,000 residents were evacuated to avoid casualties. However, at least 16 people were trapped and died.
One of the victims of the fires was a 70-year-old woman who survived but lost her property. Her house burned down along with a piece of paper on which was written the private key to a crypto wallet with bitcoins. She did not remember the login details for the crypto storage and therefore lost access to your savings in digital assets.
Ripple It is not the first time that the company has helped those in need. The company has launched a charity program Ripple Impact Initiative, through which the firm has already donated over $170 million to non-profit, charitable and educational organizations operating in more than 80 countries.