Dubai’s Al Jalila Foundation receives first donation in cryptocurrency to support cancer charity hospital

Al Jalila Foundation receives first donation in cryptocurrency1-1661956552894

Dubai: The UAE’s first charity hospital for cancer treatment that is coming up in Dubai has received a pledge for a massive donation in cryptocurrency, it was announced on Wednesday.

Al Jalila Foundation, a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, dedicated to transforming lives through medical innovation, announced that it has received the first donation in cryptocurrency to support Hamdan Bin Rashid Cancer Charity Hospital.

The donation, the first of its kind in the UAE, was made by the founders of QUINT, a revolutionary token championing mainstream adoption of DeFi and cryptocurrencies by bringing real-world rewards and perks to investors.

QUINT has donated an equivalent value of $16 million to support Hamadan Bin Rashid Cancer Charity Hospital. The funds will be made available to Al Jalila Foundation through a specially devised locking and vesting mechanism over a three-year roadmap aligned with the bone marrow transplant centre’s construction plan.

After complete realisation of the donation, the facility will be named “QUINT Bone Marrow Transplant Centre” on launch, and will cater for cancer patients who could otherwise not afford specialised medical treatment. Quint’s development team and strategic partners have also contributed generously towards this donation.

Crypto philanthropy

Dr Abdul Kareem Al Olama, CEO at Al Jalila Foundation, said: “As a philanthropic organisation we rely on charitable donations and we are always seeking innovative ways to expand our donation channels for ease of convenience for donors from all around the world to support our programmes. Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving donors greater opportunities to support humanitarian causes. We are grateful to QUINT for their generous contribution that will have a great impact on the lives of adults and children suffering from cancer.”

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Bone marrow transplant (also known as stem cell transplant) is a medical procedure that infuses healthy stem cells to replace damaged or diseased bone marrow. This treatment is usually for cancers such as leukaemia, lymphoma, or other similar life-threatening conditions. The replacement bone marrow or stem cells can come from the patient themselves (autologous transplantation) or from a donor (allogeneic transplantation).

QUINT, a flagship crypto and DeFi project on the BSC chain, has innovated the idea of super-staking pools that allow investors to benefit from real-world perks, rewards and investment opportunities.

The Quint boutique NFT Market Place brings digital art to real-world collectors and connoisseurs, displayed in beautiful Token Frames. In May 2022 Quint partnered with Galaxy Racer (GXR), a transmedia powerhouse focused on esports, content creators, music, and sports, headquartered in Dubai, and became the native token for the GXR ecosystem.

Linking Metaverse to real world

Mohammed Al Bulooki, chairman of Quint, said: “Quint’s founders, developers and partners support Al Jalila Foundation’s aim of transforming lives through medical research, and are delighted to be able to contribute to this mission. Quint prides itself on contributing to community well-being and holding itself to high standards of governance and ethics. As part of our mission of connecting the Metaverse to the real world, and boosting mainstream adoption of cryptocurrencies and DeFi, we are pleased to be among the first to embrace crypto philanthropy in the UAE and the Middle East.”

Quint’s founding team and strategic partners are all industry veterans with strong track records. Quint’s CEO Rahul Chaudhary sits at the helm of CG Corp Global, a multi-billion-dollar multinational conglomerate spanning 140 years of operation, 160 companies and 123 brands in over 35 countries.

In less than a year, Al Jalila Foundation has already raised Dh400 million, towards the Dh750 million fundraising target, with major donations received from a number of philanthropists, government and non-government organisations, UAE businesses and corporates to support the development of the UAE’s first cancer charity hospital.