Ripple, the company that issued the XRP token, has decided to donate $25 million to American schools. The funds will be allocated in its own stablecoin RLUSD to educational non-profit organizations operating throughout the United States.
To implement this initiative, Ripple will collaborate with organizations DonorsChoose and Teach for America. Their efforts will focus on educating young Americans who need to adapt to the rapidly changing job market.
The new fund will provide the resources necessary for 'improving the academic outcomes' of today's students. According to surveys cited by Ripple, the quality of education in the U.S. is continuously declining.
Ripple has always advocated for access to finance and education for all, said CEO Brad Garlinghouse. We are collaborating with some influential organizations... to benefit thousands of classrooms across the U.S.
It is quite likely that in this way the company aims to enhance its reputation after settling the lawsuit with the U.S. Securities and Exchange Commission.
It is also worth noting that this charitable step will allow the Ripple stablecoin to attract media attention both in the cryptocurrency space and beyond.