California’s San Francisco State University (SFSU) has recently received a $25 million donation in XRP from Ripple co-founder & entrepreneur Chris Larsen and his spouse Lyna Lam.
Announced April 5, Larsen and Lam have made a $25 million contribution in XRP tokens to SFSU’s College of Business via RippleWorks, a high-impact volunteer program that pairs world-class experts in technology and business with social ventures.
Touted as the largest single crypto contribution received by the university, the donation will be used to support students who are currently taking global entrepreneurial courses and exploring the FinTech sector, University President Leslie E. Wong stated, adding that:
“This groundbreaking gift will position the College of Business as an evolving, distinctly diverse and industry-relevant epicenter of business innovation and entrepreneurship. Chris, Lyna and Rippleworks are innovators, and their gift will inspire our students to creatively and strategically approach the business and tech landscapes to become the next generation of entrepreneurs and global business leaders.”
The move comes after Ripple’s previously spearheaded social impact program dubbed “Ripple for Good.” Launched in September 2018 in collaboration with RippleWorks, the program has initially set a $25 million target in addition to pooling $80 million worth of donations, directed towards supporting both educational and financial projects.
In June, Ripple has also launched its University Blockchain Research program in an effort to support educational initiatives centered on blockchain and cryptocurrencies. To that end, the company has donated over $50 million to 17 universities across the globe.
In March, Ripple has also made a $29 million XRP contribution to a number of U.S. public schools in response to educators’ funding requests made through DonorsChoose charity fund. The donation was invested in building over 30,000 classrooms across all 50 states.