Huobi Charity Limited, a philanthropic arm and blockchain-based charity platform of Huobi Group, announced that it has obtained approval from the Board of Charity Commissioner for Gibraltar (“the Board”) to operate as a registered and fully regulated charitable organization. As a formally recognized charity, Huobi Charity will be able to accept fiat and digital asset contributions from different entities and conduct various philanthropic activities to help create a better future globally.
Huobi Charity was intentionally formed with a broad scope to benefit the global society through a wide variety of initiatives. The firm aims to prevent or alleviate poverty; advance education; promote health and longevity; nurture communities; advance art, culture, heritage or science; further environmental protections; and provide relief to persons in need, including those with disabilities, ill health, economic hardship, etc.
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“As a global charity that’s helping shape the new digital economy, we believe it is our responsibility to ensure we’re building toward a fair and equitable future for all while also preserving the culture and values that define who we are as a society,” said Ciara Sun, Vice President of Global Markets and head of social impact initiatives at Huobi Group. “By receiving formal status as a registered charity in Gibraltar, we’ll be able to collaborate with other internationally-renowned charities and have a much bigger impact on the lives of people all across the globe.”
As a registered charity, Huobi Charity will operate in full transparency under the supervision of the Board, a regulatory body governed by the Charities Act of Gibraltar. All activities of the firm such as fundraising and donations will comply with regulatory requirements established by the Board. Huobi Charity will disclose transactions and provide the Board with regular reports on the activities of the firm, undergoing annual audits to prove the legitimacy of its funding sources. By opting to operate as a registered charity, Huobi is providing donors with full visibility into its charitable activities and fund management, further building on the trust that the Huobi brand is already known for.
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Huobi Charity expands on Huobi’s existing social responsibility initiatives aimed at enriching the lives of people globally through blockchain technology and digital assets. Last year during the initial COVID-19 outbreak in Wuhan, Huobi Group committed $1.4 million USD to source and donate hundreds of thousands of medical masks, protective suits, oximeters, and other medical supplies to over 135 hospitals and community healthcare centers in affected areas. Huobi Group also donated $50,000 USD in HT to the Indonesia-China Association of Economic, Social and Cultural Cooperation for the purchase and distribution of medical supplies to Indonesian hospitals.
Through the newly-licensed Huobi Charity’s, Huobi plans to continue aiding local communities in need and drive many other charitable initiatives.
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