Sparo Announces Partnership with ZamZam Token for Good to Explore Global Cryptocurrency for Charitable Giving

Sparo, a Microsoft for Startups company, is focused on leveraging its proprietary technology with partners to help democratize online social giving while also building a diverse portfolio of partners

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Sparo

Mar 10, 2022, 12:42 ET

POTOMAC, Md., March 10, 2022 /PRNewswire/ -- Sparo, a Microsoft for Startups Company committed to revolutionizing corporate social responsibility for retailers and online merchants, today announced a long-term partnership with ZamZam Pro, the only Sharia-compliant token, marking its entry into the global cryptocurrency market.

According to a Citibank report, the combination of donations by individuals, foundations and corporations adds an estimated $550 billion to the global economy.¹ With this significant rise, interest and usage in charitable giving, Sparo and ZamZam will embark on a strategic partnership to explore opportunities to leverage both Sparo's proprietary technology and ZamZam's blockchain network to create a more frictionless experience for people to donate cryptocurrency to nonprofit organizations around the world.

"We are pleased to partner with Sparo in an effort to give every citizen of the world the joy to give to their favorite cause," said Hamed Fakhro, ZamZam's founder and CEO. "And even further, we're proud to be working on a solution that will allow diverse communities to make donations through a Sharia-compliant system, so that more diverse nonprofits receive the support they need every day."

Sparo's services are powered by a plugin that seamlessly integrates into all e-commerce platforms, allowing online shoppers the option to designate a percentage of their sale to a charity of their choice at checkout. ZamZam is an open-source platform on the blockchain network that allows anyone to send a token directly to an establishment. Together, the two international corporations will examine how to utilize emerging technologies across blockchain, AI and more, to develop a low-carbon footprint solution for the Web 3.0 that will allow shoppers to send a charitable donation, whether through a token or otherwise, in support of a cause of their choosing while shopping online.

"We are honored and delighted to partner with ZamZam Pro to provide sustainable social impact in a rewarding, transparent and accountable manner to people everywhere," added Rob Sobhani, CEO of Sparo. "At Sparo, we are working toward a bold vision of ensuring that corporations and retailers have the tools readily available to make a difference and support their shoppers' causes, through diverse payment methods and with diverse donors in mind."

Shish Shridhar, Global Retail Lead at Microsoft for Startups, commented, "We are pleased to see Sparo work with ZamZam to help non-profits across the world and become a force for good."

To learn more about Sparo's offerings, visit https://www.sparo.com/.

About Sparo Corporation
Sparo is a Microsoft for Startups Company founded by scholar entrepreneur Rob Sobhani to democratize global charitable giving. Through its six issued patents, Sparo aims to become a company of global consequence by monetizing the intersection of e-commerce and philanthropy, games and donations, sweepstakes and charities, and AI and giving. Sparo operates globally and is a member of Holland based WorldStartups.

About ZAMZAM (ZAMZAM Token)
ZAMZAM is a token for good. It is building an open-source platform on the blockchain network that allows anyone to support a person/project around the world by sending its token directly to a shop, contractor, hospital, or any other sort of establishment: Cutting out the middleman and ensuring that 100% of donations reach their intended recipient.

1 For major economies, i.e., those representing around 75% of global GDP, it is possible to get a reasonable perspective on the total value and we focus on this number in our comparative analysis. Currently, we calculate this number at about $550 billion by combining industry data for individual giving, foundation giving, and corporate giving. Source: Citibank Philanthropy and the Global Economy Report, November 2021

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SOURCE Sparo