Morgan State University is receiving extended financial backing from a leading company that works to “build breakthrough crypto solutions.”

On May 14, the National FinTech Center at the Baltimore, MD-based HBCU announced it had been awarded a three-year $1,050,000 grant from Ripple. The new funding will go toward advancing the center’s blockchain and fintech research, education, programming, faculty and student technical projects, ecosystem development, operational support, educational workshops, blockchain clubs, and a fintech solution incubator, per a news release.

“This generous $1,050,000 grant is not just an investment; it’s a catalyst that propels our ability to innovate, collaborate, and prepare our students to be at the forefront of the FinTech revolution,” said Ali Emdad, Ph.D., founding director of the National Center for the Study of Blockchain and FinTech. “The ongoing partnership with Ripple stands as a beacon, illuminating the path toward a transformative educational experience that aligns with the evolving landscape of the global economy.” 

The news release details that Ripple first invested in Morgan State University’s FinTech Center back in 2019 through its University Blockchain Research Initiative (UBRI). The renewal of the grant is a part of the company’s way of showing its pledge to create inclusion within fintech for HBCUs.

“Ripple’s commitment to working closely with universities like Morgan State and its broad network of HBCUs is rooted in our vision that blockchain technology is a force for good,” said Lauren Weymouth, the senior director of university partnerships at Ripple. “As crypto and blockchain integrate further into our daily lives, these university partnerships become absolutely essential – we’re empowering the next generation with the tools they need to shape our financial future.”  

According to the National FinTech Center’s website, the center not only serves as a hub for Morgan State University but also for students and faculty at all HBCUs.

“We support faculty and students at all HBCUs to develop their skills in various areas of FinTech including blockchain, cryptocurrencies, crypto economics, cybersecurity, payment systems, entrepreneurship, and related areas,” the website states.