Al Jalila Foundation receives $16M in crypto donations

Al Jalila Foundation receives $16M in crypto donations
Image Credits: Construction Week Online

Earlier in June, Al Jalila Foundation became the first healthcare charity in the UAE to accept donations in digital currencies. Recently, the Mohammed Bin Rashid Al Maktoum Global Initiative received US$16 million donation in crypto to support the Hamdan Bin Rashid Cancer Charity Hospital.

The donation was made by the founders of QUINT, a token fostering mainstream adoption of DeFi and cryptocurrencies by bringing real-world rewards to investors. The funds will be made available to Al Jalila Foundation through a specially devised locking and vesting mechanism over a 3-year roadmap aligned with the bone marrow transplant center’s construction plan.

On launch, the facility will then be named “QUINT Bone Marrow Transplant Centre”, and will cater for cancer patients who could otherwise not afford specialized medical treatment.

Dr. Abdul Kareem Al Olama, CEO at Al Jalila Foundation, said, “As a philanthropic organisation, we rely on charitable donations and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programmes. We are grateful to QUINT for their generous contribution that will have a great impact on the lives of adults and children suffering from cancer.”

Mohammed Al Bulooki, Chairman of Quint, said, “Quint’s founders, developers and partners support Al Jalila Foundation’s aim of transforming lives through medical research, and are delighted to be able to contribute to this mission. Quint prides itself on contributing to community well-being and holding itself to high standards of governance and ethics. As part of our mission of connecting the metaverse to the real world, and boosting mainstream adoption of cryptocurrencies and DeFi, we are pleased to be amongst the first to embrace crypto philanthropy in the UAE and the Middle East.”

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