In light of the recent catastrophic earthquake in Morocco, Binance Charity has pledged to distribute up to $3 million in (CRYPTO: BNB) tokens to Binance users residing in the affected regions.

Over the past few days, Morocco witnessed its most devastating earthquake in over 60 years, leading to the tragic loss of over 2,800 lives and leaving numerous villages in the High Atlas Mountains in ruins. 

Amid these trying times, Benzinga's Future of Digital Assets conference, scheduled for Nov. 14, highlights the increasing relevance of digital assets, particularly in crisis situations where they can offer immediate financial relief.

Based on the statement from Binance, users in the hardest-hit Marrakesh-Safi Province who had completed their Proof of Address (POA) by Sept. 9, 2023, are eligible to receive an airdrop of $100 in BNB directly to their Binance accounts.

Recognizing that some users might not have finalized their POA by this date, Binance has extended the offer: those completing their POA between Sept. 9 and Sept. 30 will receive $25 in BNB.

Also Read: PayPal's Ex-President Advocates Transforming Bitcoin Into A Global Payment Network

In addition, active Binance users throughout Morocco, even those outside the primary affected area, will receive an airdrop of $10 in BNB.

Binance anticipates that approximately 70,000 Moroccan users will benefit from these relief measures, with funds distribution commencing on Sept. 12, 2023.

Natural disasters often disrupt traditional banking systems, precisely when residents require urgent financial aid. Cryptocurrencies, with their swift, cost-effective, and transparent transactions, are emerging as a vital tool for providing such immediate assistance.

Changpeng Zhao, the founder and CEO of Binance, expressed his deep concern for the Moroccan people, stating, “The impact of the earthquake on the Moroccan people is devastating. We hope we can bring some support to those affected. For Moroccan users who receive these donations but are unimpacted by the earthquake, we ask them to pass the funds on to those most in need.”

In addition to the airdrop initiative, Binance Charity has established a public donation address, urging global supporters to contribute.

All funds collected through this channel will be directed to a soon-to-be-announced authorized NGO, aiding the affected communities.

Donations are accepted in various cryptocurrencies, including BNB, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), USD Coin (CRYPTO: USDC), Tether (CRYPTO: USDT), and Binance USD (CRYPTO: BUSD).

Now Read: Buterin's Twitter Account Reclaimed After $700,000 Crypto Theft

Photo: Shutterstock