GVNG, a financial technology platform for philanthropists, has partnered with Engiven, a cryptocurrency donation platform, to allow its users to donate cryptocurrency to more than 1.6 million U.S. nonprofits and international nonprofits. Customers can use their GVNG Wallets to contribute funds, assets and cryptocurrency to their account or to donate, according to a press release.
Engiven automatically converts donations to U.S. dollars, and the user gets full credit for the value of the assets upon donation and they don’t have to pay taxes on the capital gain.
“GVNG is one of the few personal charity accounts or donor-advised funds (DAF) with the ability to accept cryptocurrency,” Kyle C. Murphy, CEO of GVNG Technology, the technology arm of GVNG, said in the release. “The trend we’re seeing is that both established crypto investors and the next generation of philanthropists want the ability to give to their favorite causes using a variety of currencies and investments. Our partnership with Engiven makes donating crypto seamless for GVNG users. Both our organizations want to simplify giving, providing the tools people need to support the causes that matter to them.”
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