The Wikimedia Foundation, which owns and operates Wikipedia and other Wikimedia free knowledge projects, is partnering Bitcoin payment processor BitPay to enable receipt of donations in cryptocurrencies such as Bitcoin and Bitcoin Cash.
The partnership will allow people to donate in Bitcoin and Bitcoin Cash to the Wikimedia Foundation from anywhere in the world cheaply and quickly. Though Wikimedia had been accepting Bitcoin for several years, it switched to BitPay so they can now accept Bitcoin Cash also.
The Wikimedia Foundation said “Accepting payments globally is difficult due to the fractured payments ecosystem and a multitude of payment options.”
Bitcoin and Bitcoin Cash are one of the cheapest payment options available so more money goes to charity rather than paying fees.
Using the services of a payment processor will also enable them to get international donations processed in ways that are efficient and cost-effective. It may also look to accept donations in more cryptocurrencies as their donors have shown an increased interest for different cryptocurrencies.
BitPay is already working with many of the largest non-profits to allow them to accept Bitcoin donations, which have increased over the last couple of years especially at the end of year for tax benefits. BitPay has processed several multi-million dollar donations to non-profits.
BitPay was granted BitLicense, the license of virtual currency activities, by the New York State Department of Financial Services (NYDFS) in mid-July to facilitate payment in Bitcoin between merchants and consumers in the State of New York.
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