Home News Binance Introduces Social-Impact Stablecoin, New Charity Program With 46 Entities

Binance Introduces Social-Impact Stablecoin, New Charity Program With 46 Entities

by Monica Padillo

Binance has partnered with 46 companies and organizations to introduce the Pink Care Token, a stablecoin issued on Binance Chain, as part of a new social project under the Binance Charity Foundation.

The cryptocurrency exchange said on its website that PCAT is pegged to one year’s supply of sanitary pads, which will be given to women in developing countries who use unhygienic items during their periods.

“A part of our mission is to promote the adoption of cryptocurrencies, and I think charity is one of the most effective ways to demonstrate their value and make them available to the people in need,” said Binance CEO Changpeng Zhao.

The program also supports Binance Charity Foundation’s other charity work in Uganda that focus on provides food, school materials, and electricity to school children. 

For the new project, Binance intends to give young women in Uganda sanitary pads to prevent the cause of infections and illnesses that can be possibly caused by cassava leaves, which are used as a substitute for hygienic pads.

The alliance for PCAT consists of the following companies and groups:

  • 8 Decimal Capital
  • AELF
  • AID:Tech
  • Alice
  • Arrington XRP Capital
  • BabelFinance
  • Binance
  • Binance Charity
  • BLOC Platform
  • Blockseed Ventures
  • Blockshine Technology
  • Bloq
  • Celer
  • CertiK
  • Contentos
  • CryptoSavannah
  • DENT
  • Earth Protocol
  • Enjin
  • Fetch.AI
  • Fintech4Good
  • GXChain
  • Harmony
  • IOST
  • IoTeX
  • Machi X
  • Matic Network
  • Mithril
  • Nebulas
  • Orichal
  • Paxful
  • Period.org
  • Primitive Ventures
  • Pundi X
  • Quantstamp
  • QuarkChain
  • Ripple
  • Sora Ventures
  • StormX
  • Tally Capital
  • TRON
  • Ultrain
  • V Systems
  • VeChain
  • Zcoin