Al Jalila Foundation Receives First Donation in Crypto to Support Cancer Charity Hospital
Al Jalila Foundation, a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, dedicated to transforming lives through medical innovation, announced that it has received the first donation in cryptocurrency at an equivalent value of US$16 million to support Hamdan Bin Rashid Cancer Charity Hospital.
The donation, the first of its kind in the UAE, was made by the founders of QUINT, a revolutionary token championing mainstream adoption of DeFi and cryptocurrencies, by bringing real-world rewards and perks 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.
After complete realization of the donation, the facility will be named “QUINT Bone Marrow Transplant Centre” on launch, 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 organization, 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.”
In less than a year, Al Jalila Foundation has already raised AED400 million, towards the AED750 million fundraising target, with major donations received from a number of philanthropists, government and non-government organizations, UAE businesses and corporates to support the development of the UAE’s first cancer charity hospital.
It is important to note that Al Jalila Foundation announced that it has been granted approval to receive charitable donations in cryptocurrencies a couple of months ago, making it the first healthcare charity in the UAE to accept donations in digital money.
Al Jalila Foundation also announced that it has partnered with a leading cryptocurrency platform. This unprecedented move in the charity sector aims to expand the Foundation’s donation channels, network and capabilities in line with Dubai’s vision to be a leader in adopting advanced financial technologies and a prominent digital asset hub.