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Binance, Tron and Ripple to Launch Sanitary Pad-Pegged Token to Support Ugandan Women

  • Yuri Molchan
    📰 News

    The charity branch of Binance intends to release a new token for demonstrating their support of women’s health on a global scale


Binance, Tron and Ripple to Launch Sanitary Pad-Pegged Token to Support Ugandan Women
Contents

The Binance Charity Foundation (BCF) plans to take another step towards supporting the global crypto community, but now it targets the female part of it in particular.

BCF sets up a global alliance

In a recent blog post, the Binance branch that deals with philanthropy has spread the world about making an alliance with 46 companies and organizations around the world to create a token to support the health of billions of women on the planet. 

https://www.binance.com/en/blog/353125312788316160/Binance-Charity-Forms-Alliance-with-46-Companies-to-Unveil-a-Stablecoin-for-the-Alleviation-of-Period-Poverty 

Among the companies BCF intends to work with is the crypto heavyweight Ripple, Tron, Quantstamp and other companies. The token they are planning to create and launch is called PCAT – Pink Care Token – and it will be aimed at providing medical accessories for women in third-world countries.

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A ‘Stable’ coin?

This will be a redemption-only coin made on the Binance Chain, one may even call it a stablecoin, since it will be pegged to some physical assets. But not fiat as it is usually done – it will be backed by a year’s supply of sanitary pads that women in the developing countries have a great lack of and demand for.

The first release of PCAT and the pads it is backed with, will be made later this month in Uganda – the country that Binance Charity Foundation seems to have chosen as its favourite venue. 

Previously, the media reported that BCF had arranged sponsorship for providing local schools with BNB to buy students and staff lunches as part of the “Binance for Children” program.

Both Binance’s CZ and Tron’s Justin Sun, who usually collaborate on Binance’s charity projects, have written on their Twitter pages that this project will be of great help to women suffering from lack of everyday necessary accessories and will prove that the crypto world cares about them and indeed aims to change the world.

Cover image via 123rf.com
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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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