Currently, Shift4 has over 425 software integrations and more than 200,000 merchant clients. Based on an investor presentation published March 1, 2022, U.S.-based payment solutions service provider Shift4 confirmed its acquisition of The Giving Block in cash and stock for $54 million. The announcement included a possible earnout of up to $246 million.
The Giving Block is an online platform that enables more than 1,300 nonprofit organizations and charities to accept cryptocurrency donations. As told by its yearly report, the organization processed $69.64 million in cryptocurrency donations, a growth of 1,558% from 2020. Out of that amount, nearly $12.3 million came from donations by NFT projects.
Ether (ETH) became the most popular crypto that was donated for the first time, accounting for around half of the total volume. In the past month, The Giving Block offered a sample list of six charities on the receiving end of crypto donations and how philanthropy has positively affected the organizations.
While commenting on the acquisition, the team at The Giving Block wrote:
Buy Bitcoin Now“Shift4’s status as a leading payments company with over $200 billion in annual payments volume, plus our shared commitment to taking crypto mainstream and leading on nonprofit sector payments innovation, has given us the opportunity to have the impact on the world we began dreaming up.”
Shift4 And The Giving Block Involved In Ukraine Donation
In the meantime, the CEO of Shift4, Jared Isaacman, commented:
“Shift4 will invest further in The Giving Block’s successful strategy while also pursuing a $45+ billion embedded cross-sell opportunity by bundling crypto donation capabilities with traditional card acceptance. This represents just a small portion of the $470+ billion nonprofit addressable markets that Shift4 will uniquely be able to pursue as a result of this acquisition.”
The Giving Block also launched its Ukraine Emergency Response Fund in the past week while responding to the continuing Russian invasion. The funds can be donated through ETH, Bitcoin, and other altcoins.
Our Ukraine Emergency Response Fund is now LIVE
The nonprofits within this fund are saving lives and providing critical support on the ground to those impacted by the #Ukraine crisis.
Donate #cryptocurrency to the fund now: https://t.co/4ZXGMGcrlH
— The Giving Block (@TheGivingBlock) February 26, 2022
These proceeds will go to over 10 humanitarian relief organizations and other international nonprofits.
