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Progressive International Moves Into Cryptocurrencies To Get De-Banked By Major Banking Firms

Reports said that Progressive International, a global organization supporting progressive left-wing activists and organizers, is moving into cryptocurrencies in response to getting de-banked by major payment and banking firms.

It has been reported that it now accepts donations in cryptocurrencies like Bitcoin (BTC) and Ether (ETH) to defend itself against attempts to shut them out of the global financial system.

A spokesperson for Progressive International said that Dutch ING Bank and payment giant PayPal blocked donations to the organization as well as their campaign of solidarity with Cuba to help vaccinate people against COVID-19. Per the representative, ING and PayPal were “acting in support of the United States embargo.”

However, the vaccination campaign, which was announced last month, aimed to spotlight the Cuban government's progress with developing vaccines for COVID-19 and host a panel of experts to showcase their efforts.

The person added:

“Progressive International relies on small donations from the public to fund our work. As a defence against attempts to shut us out of the international financial system, we are now also accepting donations in cryptocurrencies as well as fiat currencies. We are grateful for the donations we have received in cryptocurrencies.”

The report said that the spokesperson went on to say that this is the first time that the organization enabled donations in crypto.

The person further said:

“We plan to continue to accept donations in crypto to support our work, not limited to Cuba, and may expand into other currencies where appropriate.”

Thus, Progressive International said that the BTC wallet address has collected a total of 0.008 BTC ($307), while the ETH wallet address holds 0.715 ETH ($1,979), as of February 2.

Source: Cointelegraph



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