Payment Service Provider Shift4 Acquires The Giving Block for $54 Million

According to In an investor presentation published Tuesday, US-based payment solutions provider Shift4 announced its acquisition of The Giving Block in cash and stock for $54 million, plus potential profits of up to $246 million. The Giving Block is an online platform that allows more than 1,300 nonprofits and charities to accept crypto donations.

Such as told according to its annual report, the organization processed $69.64 million in crypto donations, an increase of 1.558 % from 2020. Of this amount, approximately $12.3 million came from donations from non-replaceable tokens or NFT projects. Ether (ETH) became the most popular crypto to be donated for the first time, accounting for nearly half of the total volume. Last month, The Giving Block gave Coin-Crypto a sample list of six charities on the receiving end of crypto donations and how philanthropy has positively impacted such organizations.

As for the acquisition, The Giving Block’s team wrote

“Shift4’s status as a leading payments company with annual payments volume exceeding $200 billion, plus our shared commitment to bring crypto mainstream and lead the way in innovation in non-profit payments sector, has given us the opportunity to have on the world we began to dream.”

Meanwhile, Jared Isaacman, CEO of Shift4, says, commented

“Shift4 will continue to invest in The Giving Block’s successful strategy while pursuing a built-in $45+ billion cross-sell capability by bundling crypto donation capabilities with traditional card acceptance. This represents only a small portion of the nonprofit addressable markets of more than $470 billion that Shift4 will be uniquely able to pursue as a result of this acquisition.”

The Giving Block too launched its Ukraine Emergency Response Fund last week in response to the ongoing Russian invasion. The proceeds, which can be donated via Bitcoin (BTC), ETH and other altcoins, will go to at least 10 humanitarian aid organizations and international non-profit organizations.

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