The Luxury Bank Launches a New Charitable Wing, the Luxury Foundation, With a TLB 800,000 Budget: Vows to Combat Poverty in Eastern Europe

By: Latest Press Releases from Newswire.com

August 25, 2021 at 07:44 AM EDT

The Luxury is proud to announce the launch of its new global non-profit charitable foundation, the Luxury Foundation, which took place on August 19. The foundation aims to make a difference in the lives of communities in Eastern Europe by fostering educational initiatives that overcome the cyclical impact of generational child poverty in the region.

LONDON - August 25, 2021 - (Newswire.com)

The Luxury Foundation has already raised 800,000 TLB from its own charitable budget alongside contributions from employees and partners. The foundation will use these funds to help some 2,000 people in need in Eastern Europe through its 400-strong volunteer army by the end of 2021. The Luxury Foundation has also promised further poverty-beating initiatives in 2022 and beyond, saying that this is only the beginning.

"Unfortunately, it is a sad reality in the cryptocurrency industry that many in the space only think about themselves and their own gain. Cryptocurrency is not just a wealth-making investment frontier - it is also an innovative space that promises to redistribute wealth more equitably. Those who have benefited from cryptocurrency should, in our belief, be the first to use their wealth to help those in need," said Catalin Dascalu, CEO of The Luxury.

"At The Luxury, we put our money where our mouth is and lead by example. With the launch of the Luxury Foundation, we have taken on a great responsibility as a leader in this space. In the next few weeks and months, you will see the fruit of these actions - and I promise you that this is only the beginning."

The Luxury Foundation's charitable focus is on education, which it views as a tool to break the cycle of poverty. This approach is backed by the UNICEF, which calls on child education as a critical method of breaking the cycle of disadvantage through enhancing earning potential and employment opportunities in adulthood. In doing so, The Luxury Foundation is giving some of Europe's most impoverished families the financial tools and assistance they need to give their children a bright future.

According to the World Bank, some 60 million people in Eastern Europe and the former Soviet bloc live in poverty. The Luxury Foundation will directly allocate necessary funds to Eastern European families in need, enabling them to access quality education with enhanced learning outcomes and strong skills development.

"Poverty doesn't just affect the poor: it affects all of us. Some of tomorrow's greatest minds are living in poverty today. This poverty prevents them from accessing an education that allows them to reach their full potential for society's benefit," added Dascalu. "Our aim is to break the cycle of poverty for the benefit of everyone - and it all starts with The Luxury Foundation."

Anyone can volunteer with The Luxury Foundation to help the needy in their country, abroad, or online. The application to become a volunteer with The Luxury Foundation can be done through this form. Volunteers can join regular events and activities organized by the foundation and scheduled on its website; these activities will take place across Eastern Europe and directly help needy families.

The launch of The Luxury Foundation is the latest initiative of The Luxury, an elite concierge group that is also behind the launch of The Luxury Bank (TLB). The Luxury Bank is a utility-based cryptocurrency that aims to make using cryptocurrency for everyday purchases as easy as using a credit card. The Luxury Bank has already donated 800,000 TLB ($40MM) to the foundation, enabling The Luxury Foundation to start its charitable mission immediately.

For more information about The Luxury Foundation and its charitable mission and educational initiatives in Eastern Europe, please visit https://luxury.foundation/. For all general and media inquiries, please contact Samer Fatoum at +44 330 808 6781 or email pr@theluxurybank.com.

About The Luxury

The Luxury, founded in 2014, is a global concierge group that provides a luxury lifestyle management service for its clients via its network of six offices around the world. In addition to its concierge services, The Luxury brand also includes an influencer talent agency, retail, The Luxury Academy, The Luxury Bank, and The Luxury Foundation. For more information about the company and its services, please visit The Luxury's website.