LOS ANGELES, Oct. 14, 2021 /PRNewswire-PRWeb/ -- GVNG, a
financial product and technology platform that empowers citizen
philanthropists, and Engiven, a leading cryptocurrency donation
platform, have partnered to make it easy for GVNG users to
contribute cryptocurrency to their GVNG Wallets, providing a
tax-smart path to donate to more than 1.6 million U.S. nonprofits
and many international NGOs.
"GVNG is one of the few personal charity accounts or
donor-advised funds (DAF) with the ability to accept
cryptocurrency," said Kyle C.
Murphy, CEO of GVNG Technology, the technology arm of GVNG.
"The trend we're seeing is that both established crypto investors
and the next generation of philanthropists want the ability to give
to their favorite causes using a variety of currencies and
investments. Our partnership with Engiven makes donating crypto
seamless for GVNG users. Both our organizations want to simplify
giving, providing the tools people need to support the causes that
matter to them."
Users of the GVNG Wallet contribute funds, assets and crypto to
their account, getting an immediate tax benefit. Then, over time,
they can donate the funds to any U.S. charity, directly in the app.
With the integration of Engiven, cryptocurrency donations are
converted to U.S. dollars instantly and then added to user's GVNG
Wallet. When users contribute stock or crypto to their GVNG Wallet,
they get full credit for the value of the asset when it is donated,
and they don't have to pay taxes on the capital gain.
"From the beginning, we've dreamed of making it possible for any
charity to receive cryptocurrency donations, and this new
partnership makes this vision a reality," said James Lawrence, CEO and co-founder of Engiven.
"More than 20 million Americans own some form of crypto. Many of
these donors have incredible gains, and now they are empowered to
use those gains for good."
This integration is the first of many possible joint projects
for GVNG and Engiven. As crypto becomes more intertwined with
individuals' financial picture, making sure they have tax
beneficial ways to leverage crypto for good is key.
GVNG is as much a philosophy as a financial product and technology
platform–it is designed to increase giving by empowering the
citizen philanthropist in everyone. The GVNG Wallet provides the
power of a charitable foundation in a simple-to-use app. Like a
401k for giving, individuals,
companies, and other organizations can contribute funds, crypto,
stocks, and bonds and get a tax benefit immediately, while
providing a seamless path to donate to more than 1.6 million
charities over time. Unique to GVNG, users can amplify their impact
by running their own tax-deductible crowdfunding campaigns to
support their favorite charitable causes. GVNG is integrated with
payroll and banks to ensure giving is always part of the overall
financial wellness picture. GVNG provides a unified picture of
impact over time with a single tax receipt at the end of the year.
The GVNG Wallet is administered by GVNGorg, a 501(c)(3) tax-exempt
organization (a California nonprofit public benefit corporation)
and powered by GVNG Technology, Inc. Learn more at
Engiven is a leading cryptocurrency donation management platform
providing an end-to-end giving solution benefiting nonprofits and
their donors. For more information about Engiven, visit
Holly Ferris, GVNG, (562)