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Binance Charity Partners with MYDIN to Support Vulnerable Communities Across Malaysia

2022-11-03

Binance Charity, the philanthropic arm of Binance, the world’s leading cryptocurrency and blockchain infrastructure provider, has announced a partnership with Mydin Mohamed Holdings Berhad (MYDIN), Malaysia's largest homegrown Halal wholesale and retail chain, to provide humanitarian support for vulnerable rural communities. 

The partnership between Binance Charity and MYDIN Prihatin includes a donation towards emergency supplies to help those affected by the pandemic and flood. MYDIN Prihatin will use the donation to purchase essential goods needed for the underprivileged.

Helen Hai, Executive VP of Binance and Head of Binance Charity, said: “It’s so inspiring to see a household company such as MYDIN prioritize the wellbeing of the people, especially as Malaysia braces for a major flood alarm. Through this collaboration, we hope to help support the local community in coping with this difficult situation. We are very grateful to be part of MYDIN’s initiative and hope to help build sustainable livelihoods and a thriving local economy.”

The donation will be made in stablecoin (BUSD) on Binance Charity’s 100% transparent blockchain-enabled donation platform. Stablecoins bridge the world of cryptocurrency and fiat currency together as their prices are tied to a reserve asset, in this case, the US dollar. 

“MYDIN Prihatin ‘Kami Bawa Senyuman (We Bring Smiles)’ is MYDIN’s effort to sustainably help Malaysians lead happier lives through the mobilization of timely and coherent support to the community. The scale of economic challenges we are grappling with, makes us realize we cannot act alone and that collective action is necessary to ensure the help continues to reach the targeted group. With Binance Charity joining as a valued partner, we hope to reach out to the vulnerable communities even more actively,” said Datuk Wira (Dr.) Ameer Ali Mydin, Managing Director at MYDIN.

-ENDS-