Global crypto market maker and liquidity provider GSR has pledged an initial $10mn (over £8.3mn) to establish the GSR Foundation, an independent grantmaking charity that will support nonprofit organisations across the world.
GSR has launched the foundation in response to the barriers to participation in tech, and in celebration of 10 years of business. the foundation will work to make access to tech opportunities more equitable and equal through strategic grant making and the sharing of thought leadership.
The $10mn donation formalises and grows a long-standing commitment by the firm to ESG and positive social impact, alongside building a best-in-class trading business.
James Newell will serve as GSR Foundation’s first Executive Director. Newell brings over 16 years of experience leading global nonprofit organisations and social businesses from management positions including Consultant, Executive, and Non-Executive Director.
Jakob Palmstierna, CEO, GSR and Founding Patron of the GSR Foundation said:
“The barriers that exist in communities today stem from a number of things – a practical lack of hardware to a cultural lack of precedent – and may be general to whole populations or targeted to specific demographics.
“Through our commitment to fund the GSR Foundation, we will have confidence that GSR lives its commitment to making social value creation an integral part of our DNA”.
“I am thrilled to be joining the GSR Foundation as Director. I am excited to join a company genuinely solving problems with its philanthropy and working directly with our grantees to co-create solutions to challenging problems. Ultimately, sharing what we learn and building viable, scalable solutions that last.”