In the wake of the devastating earthquake that rocked North African country Morocco last week, Binance has pledged $3 million in Binance Coin (BNB) to assist the victims of the disaster. This Binance initiative involves issuing airdrops to users residing in Morocco's heavily impacted Marrakesh region.
This is not the first time the cryptocurrency exchange has mobilized cryptocurrency for humanitarian aid. In March, the world largest exchange undertook a similar aid campaign for those affected by earthquakes along the Turkey-Syria border by providing USD $100 worth of BNB tokens to the victims.
Identification of the users will be based on Proof of Address (POA) completed before September 9, 2023, in Marrakesh-Safi Province, which has suffered the most significant impact. Users who have completed POA before this date in the Marrakesh-Safi Province area will each receive $100 in BNB directly to their Binance accounts.
According to Binance;
"We recognize that many users in the affected area may not have yet completed POA. Therefore, for any existing user who completes POA after September 9, 2023, and before September 30, 2023, we will donate $25 in BNB directly to their Binance account.
Furthermore, for our active transacting users across Morocco who are not in the affected area, we will airdrop $10 in BNB to each of them.
We expect our efforts to reach around 70,000 Binance users living in Morocco. The funds will be reaching our users starting September 12, 2023.
In the aftermath of natural disasters, people often lose access to traditional banking at the exact moment when extra funds are needed to help cover medical supplies, food, and other essential needs".
Crypto transfers are now increasingly being used to deliver financial aid to disaster victims as they provide fast, low-cost, borderless, and transparent transactions.
Binance founder and CEO CZ said: “The impact of the earthquake on the Moroccan people is devastating. We hope we can bring some support to those affected. For Moroccan users who receive these donations but are unimpacted by the earthquake, we ask them to pass the funds on to those most in need.”
Binance Charity has also launched a public donation address for anyone to contribute. We will donate the total crypto amount received on this address to an authorized NGO (to be named soon) to help people in need. Donations to the Emergency Earthquake Appeal will be accepted in BNB, BTC, ETH, USDC, USDT, or BUSD.
In these difficult times, Binance stands by our users, and we will continue to work on additional ways to help our community in Morocco.
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