Bybit, a cryptocurrency derivatives exchange, has launched a humanitarian initiative in collaboration with Gift of the Givers to support residents of South Africa’s Eastern Cape, who have been severely affected by devastating floods since early June.
The extensive flooding and landslides throughout the province led the government to declare a state of disaster, with thousands displaced and essential infrastructure damaged.
In an announcement shared on its official X account today, Bybit stated that the partnership is focused on providing critical supplies and contributing to ongoing rebuilding efforts.
Bybit backs NGO’s Eastern Cape rebuilding drive
“At Bybit, we believe our responsibility extends beyond innovation in finance,” Wilson Ogheneovo, Head of Africa at Bybit, remarked. “We are deeply saddened by the tragedy … and stand in solidarity with those affected. Through our support of Gift of the Givers, we hope to contribute meaningfully to the relief efforts and help restore dignity and hope to families who’ve lost everything.”
The company initiative aims to support the NGO’s campaign to “Rebuild Flood‑Stricken Communities in the Eastern Cape.” Gift of the Givers has deployed teams on the ground, distributing essential food, water, emergency shelter, and medical aid.
Badr Kazi, Director of Strategic Partnerships for Gift of the Givers, noted that the donation “allows us to extend critical relief and infrastructure restoration to those who need it most,” adding that “rebuilding lives goes beyond bricks and mortar; it’s about restoring dignity and re‑igniting hope.”
That being said, this is not an isolated case. Across Africa, crypto platforms are increasingly filling critical gaps in humanitarian support where traditional systems fall short.
An example is Ripple, which has piloted stablecoin‑based aid in Kenya’s Laikipia County, targeting pastoralist communities devastated by prolonged drought.
In partnership with Mercy Corps Ventures and DIVA Donate, Ripple introduced its U.S. dollar‑pegged stablecoin, RLUSD, to automate the timely disbursement of funds.
Vegetation health is monitored through satellite NDVI data, and if drought triggers are met, eligible pastoralists automatically receive $75 via smart contracts—enough to support one animal for six months, as reported by Techpression.
Ripple’s pilot covers 533 pastoralists and transfers funds held in escrow, ensuring transparency, speed, and efficiency. This addresses long-standing challenges in traditional aid systems such as delays, opacity, and corruption.
Crypto’s growing role in disaster relief
These efforts highlight a broader shift: cryptocurrency and blockchain technology are becoming powerful tools in humanitarian support. By enabling instant, cross-border transfers, near‑real‑time execution, and public transparency, these platforms can respond faster than many conventional channels.
In the Eastern Cape, another crypto platform’s (Bybit) new active engagement marks a fresh wave of crypto-driven community support. Many exchanges follow suit, mobilising resources, activating their global user bases, and channelling funds directly to NGOs to assist those in need.
Ultimately, these cases show how crypto exchanges transcend their financial roots to become key players in humanitarian landscapes, offering innovative mechanisms to alleviate suffering in vulnerable regions.