Canada’s largest platform for donating and fundraising online today announced that it now accepts donations of cryptocurrency in support of any of Canada’s 86,000 registered charities.
CanadaHelps says that charities are facing “unprecedented demand and declining donation revenue,” and that the new service is in response to growing interest “from both charities and younger donors.” The platform wants to ensure all Canadian charities, regardless of size, are able to easily accept this currency.
“As technology and digital solutions continue to transform our lives, we’re making it easier for Canadians to engage with and support the charities they care about,” said Jane Ricciardelli, Chief Operating Officer and Acting CEO of CanadaHelps. “At the same time, we are helping charities raise the critical funding they need to provide the services that a growing number of Canadians rely on.”
According to a recent poll conducted by KPMG, 13% of Canadians have purchased crypto assets such as bitcoin or ethereum. Among the biggest investors are younger Canadians, with a quarter of 18- to 24-year-olds having purchased crypto assets.
However, should younger Canadians fail to what The Giving Report 2022 terms the “giving gap”—by increasing their donations to match those of older Canadians—then charities will have to contend with a “major shortfall in funding,” CanadaHelps warns.
“Since our inception, CanadaHelps has been focused on driving generosity through innovation,” said Jane Ricciardelli, Chief Operating Officer and Acting CEO of CanadaHelps. “The launch of cryptocurrency on CanadaHelps is another key step we are taking to engage younger Canadians in giving.”
To ensure cryptocurrency donations through CanadaHelps are carbon-neutral, CanadaHelps has partnered with Toronto’s CarbonX, a fintech company focused on carbon mitigation through emissions analysis and carbon trading.
Cryptocurrency adoption is growing “amongst young Canadians in particular,” affirmed CarbonX chairman Don Tapscott. He added that those who choose to donate cryptocurrency through CanadaHelps “can rest assured that their gift will be carbon neutral.”
The first charity to receive a donation of cryptocurrency on CanadaHelps will be Canada Learning Code, a national charity that teaches digital skills and computer science education to all Canadians. The gift is courtesy of Boris Wertz, founder of Vancouver’s iconic Version One Ventures and a Canada Learning Code Board Member.
Wertz says that cryptocurrency technology “is so important for the future of philanthropy.” His gift of bitcoin through CanadaHelps to Canada Learning Code is “to inspire the next generation of tech innovators across Canada.”
“At Canada Learning Code we unlock digital potential for individuals to harness the power of technology,” added Melissa Sariffodeen, CEO of Canada Learning Code. “Today CanadaHelps has done that for us.”
Since 2000, over 3.5 million people have given more than $2 billion through CanadaHelps.