Engiven partners with GVNG to enable cryptocurrency donations
GVNG, a financial technology platform for philanthropists, has partnered with Engiven, a cryptocurrency donation platform, to enable its users to donate cryptocurrency to over 1.6 million US and international nonprofit organizations. Customers can use their GVNG wallets to deposit funds, assets and cryptocurrency to their account or to donate, according to a press release.
Engiven automatically converts donations to US dollars, and the user gets full credit for the value of the assets when donating and they don’t have to pay capital gain taxes.
“GVNG is one of the few personal charitable accounts or Donor Advised Fund (DAF) with the ability to accept cryptocurrency,” said Kyle C. Murphy, CEO of GVNG Technology, the technology arm of GVNG, in the press release. “The trend we’re seeing is that established crypto investors and the next generation of philanthropists want to be able to give to their favorite causes using a variety of currencies and investments. Our partnership with Engiven makes donating crypto transparent to GVNG users. organizations want to make giving simple, by providing the tools people need to support the causes they care about. “