Rate products and services provider Shift4 acquires The Giving Block for $54 million

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Shift4 has more than 425 instrument integrations and over 200,000 carrier provider customers

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

Per an investor presentation published Tuesday, U.S.-primarily based cost solutions provider Shift4 announced its acquisition of The Giving Block in cash and stock for $54 million, plus a capability earnout of up to $246 million. The Giving Block is an internet platform that permits over 1,300 nonprofit organizations and charities to settle for crypto donations. 

As told by its annual epic, the organization processed $69.64 million in crypto donations, an lengthen of 1,558% from 2020. Out of this quantity, roughly $12.3 million came from donations by nonfungible tokens, or NFT, projects. Ether (ETH) grew to turned into primarily the most-well-liked crypto donated for the critical time, accounting for nearly half of the total volume. Remaining month, The Giving Block provided Cointelegraph with a sample record of six charities on the receiving crash of crypto donations and how philanthropy has positively impacted such organizations. 

Concerning the acquisition, the team at The Giving Block wrote: 

“Shift4’s discipline as a number one payments firm with over $200B in annual payments volume, plus our shared commitment to taking crypto mainstream and leading on nonprofit sector payments innovation, has given us the different to maintain the affect on the world we started dreaming up.”

In the meantime, Jared Isaacman, CEO of Shift4, commented:

“Shift4 will make investments additional in The Giving Block’s a success technique while also pursuing a $45+ billion embedded spoiled-sell different by bundling crypto donation capabilities with weak card acceptance. This represents gorgeous a dinky fragment of the $470+ billion nonprofit addressable markets that Shift4 will uniquely be ready to pursue as a results of this acquisition.”

The Giving Block also launched its Ukraine Emergency Response Fund closing week per the continuing Russian invasion. Proceeds, that can also be donated thru Bitcoin (BTC), ETH, and quite a few altcoins, will trot to at the least 10 humanitarian reduction organizations and world nonprofits.

Our Ukraine Emergency Response Fund is now LIVE

The nonprofits within this fund are saving lives and providing serious strengthen on the flooring to these impacted by the #Ukraine crisis.

Donate #cryptocurrency to the fund now: https://t.co/4ZXGMGcrlH

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