November 24, 2022
  • November 24, 2022

Local banking foundation accepts first cryptocurrency donation

By on October 6, 2021 0

The Central Pacific Bank Foundation has accepted its first cryptocurrency donation.

The local bank’s nonprofit foundation said it will accept 39 different cryptocurrencies, including Bitcoin and Ethereum. The foundation has partnered with Engiven Inc., a provider of cryptocurrency management software.

Keith Amemiya is the Executive Director of the CPB Foundation. Over the past year, the CPB Foundation has donated $ 1.6 million to help local communities. He says several organizations and individuals have made significant donations to help these causes.

“So with that in mind and the increased interest of businesses and individuals in supporting the CPB Foundation, we thought it would be a great idea to expand our reach by authorizing and accepting cryptocurrency donations from interested individuals. “said Amemiya. “We recognized that cryptocurrency is becoming an increasingly popular way for people to make payments and so we wanted to expand our reach again and accept donations in any form. acceptable.

Although his charitable foundation accepts cryptocurrency, the Central Pacific Bank is not.

Local banks can use a business in the state’s Digital Currency Innovation Lab to receive crypto donations, but the program ends on June 30, 2022.

The state’s DCIL hosted a webinar earlier this year on nonprofits accepting cryptocurrency and lists the Hawaii Theater Center as a nonprofit that accepts crypto.