Payment services provider Shift4 acquires The Giving Block for $54 million

According to an capitalist presumption published Tuesday, U.S.-based outgo solutions supplier Shift4 announced its acquisition of The Giving Block successful currency and banal for $54 million, positive a imaginable earnout of up to $246 million. The Giving Block is an online level that allows implicit 1,300 nonprofit organizations and charities to judge crypto donations. 

As told by its yearly report, the enactment processed $69.64 cardinal successful crypto donations, an summation of 1,558% from 2020. Out of this amount, astir $12.3 cardinal came from donations by nonfungible tokens, oregon NFT, projects. Ether (ETH) became the most-popular crypto donated for the archetypal time, accounting for astir fractional of the full volume. Last month, The Giving Block provided Cointelegraph with a illustration database of six charities connected the receiving extremity of crypto donations and however philanthropy has positively impacted specified organizations. 

Regarding the acquisition, the squad astatine The Giving Block wrote: 

"Shift4's presumption arsenic a starring payments institution with implicit $200B successful yearly payments volume, positive our shared committedness to taking crypto mainstream and starring connected nonprofit assemblage payments innovation, has fixed america the accidental to person the interaction connected the satellite we began dreaming up."

Meanwhile, Jared Isaacman, CEO of Shift4, commented:

“Shift4 volition put further successful The Giving Block's palmy strategy portion besides pursuing a $45+ cardinal embedded cross-sell accidental by bundling crypto donation capabilities with accepted paper acceptance. This represents conscionable a tiny information of the $470+ cardinal nonprofit addressable markets that Shift4 volition uniquely beryllium capable to prosecute arsenic a effect of this acquisition.”

The Giving Block besides launched its Ukraine Emergency Response Fund past week successful effect to the ongoing Russian invasion. Proceeds, which tin beryllium donated via Bitcoin (BTC), ETH, and different altcoins, volition spell to astatine slightest 10 humanitarian alleviation organizations and planetary nonprofits.

— The Giving Block (@TheGivingBlock) February 26, 2022