Binance, the world’s biggest crypto exchange by trading volume, has donated 27,000 KN95 masks worth over $60,000 to the U.K. National Health Service’s Pru Trust to aid the fight against COVID-19.
The Princess Royal University Hospital (PRUH) is one of London’s largest and busiest teaching hospitals. It’s part of the King’s College Hospital NHS Foundation Trust, which employs more than 11,000 healthcare workers and delivers services to more than 326,000 Londoners.
The COVID-19 outbreak has seen an unprecedented need for personal protection equipment (PPE) by the healthcare system and its workers. The timing is also auspicious, given Binance’s recently-revealed plans to open a crypto exchange and blockchain hub in the U.K.
“We’d like to thank Binance for being a strong member of our community and contributing to the fight against COVID-19,” Dr. Tarun Singhal, head of virology at the Pru Trust, said in a statement. “We hope this contribution will inspire other technology firms in London to contribute to our community as well.”
Founded in July 2018, the Binance Charity Foundation donates digital assets where applicable, and also uses blockchain’s track-and-trace capabilities to ensure donations reach the places they should.
Binance Charity recently created the PPE Token stablecoin, which has been used to track the delivery of masks and other equipment to hospitals. Thus far, Binance’s COVID relief efforts have delivered about 1 million PPE masks to hospitals around the world, according to a company blog post.
“At Binance, we wanted to show our support for the NHS in a material way, boosting their PPE supplies which safeguard the health of care workers,” said Binance Charity Foundation chief Helen Hai.
“Binance represents a new generation of fintechs that are committed to the values that inspired blockchain technology,” added Ajit Tripathi, who leads Binance charity efforts in addition to banking partnerships in the U.K. and Europe. “I am personally grateful to the NHS and the PRUH for giving us the opportunity to contribute in this small and meaningful way when it’s most needed.”
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