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Ripple and RLUSD Back Water.org’s 200M-People Mission for Safe Water

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Key Takeaways:

  • Ripple became Water.org’s sole digital asset partner for its Get Blue campaign.
  • RLUSD will facilitate more efficient and cost-effective cross-border flow of charitable payments.
  • The goal of the initiative is that by 2030, 200 million people will have access to safe water and sanitation.

There are over 2 billion people on earth who still don’t have safe water at home. Ripple is in a new partnership with Water.org’s Get Blue campaign that adds the blockchain payments network and RLUSD stablecoin to the mix.

The move marks one of the largest real-world social impact initiatives involving a stablecoin, highlighting how blockchain infrastructure is increasingly being used beyond trading and financial markets.

Read More: Ripple Expands D.C. Footprint as $3T Digital Asset Race Heats Up in Washington

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Ripple Joins Water.org’s Global Water Initiative

Ripple has been appointed as the only digital asset and payments partner with Get Blue, a campaign from Water.org to support the movement towards reaching safer water and sanitation to the world.

The effort was launched by non-profit Water.org, co-founded by actor Matt Damon and engineer Gary White earlier this year with a lofty goal: helping to deliver safe water to 200 million inhabitants by 2030.

A number of huge corporations are already on this campaign, including Amazon, Starbucks, Gap Inc. and Ecolab. Ripple’s involvement brings payment infrastructure built on block technology to the mix.

You have to work in collaboration across industry, across governments, across technology providers all working towards the problem of solving the global water issue, Ripple said. The company brazenly backs a movement centered on providing tangible results for communities lacking services.

Read More: Ripple’s RLUSD Goes Multichain on 40+ Networks, Expanding Access to USD Liquidity

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How RLUSD Will Be Used

Ripple plans to provide both financial support and payment technology for the initiative.

Funds sent to Water.org’s network of microfinance partners in developing markets will be able to move through Ripple Payments and the company’s dollar-backed stablecoin, RLUSD.

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Faster Transfers Could Increase Funding Efficiency

There may be several intermediaries in the traditional cross-border transfers, settlement takes may take longer and transaction costs are higher.

With blockchain settlement, RLUSD can be able to move value across borders more effectively and maintain a dollar pegged system. Reducing transfer costs can mean there’s more capital available to local programs for those organizations that serve across multiple countries.

Microfinance is a key component of Water.org’s model. The organization is not just providing aid, but also loans families a means of financing affordable water and sanitation solutions. The plan has already impacted over 85 million people around the world.

If payment friction is reduced, more money can be allocated to the programs as opposed to administrative and transfer costs.

Blockchain Expands Beyond Financial Markets

The cooperation mirrors a larger picture that stablecoins are being increasingly utilized for actual payments as opposed to simply crypto trading.

In recent years, Ripple has been expanding RLUSD’s footprint in various programs on social inclusion and financial inclusion. This has established the stablecoin as a medium for the more rapid settlement between payment partners on a global level, but also as stable as an U.S. dollar backed asset.

The post Ripple and RLUSD Back Water.org’s 200M-People Mission for Safe Water appeared first on CryptoNinjas.


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