The Charity Commission registered the new charity on Monday. All donations will be processed by the Red Cross and trustees appointed by the Greater London Authority will decide how the money should be spent.
The charity has also teamed up with the Salvation Army, Victim Support and WRVS to run a 24-hour reception centre for relatives and friends of people who are missing.
Based at the Queen Mother Sports Centre on Vauxhall Bridge Road, the centre has been staffed by about 100 volunteers in rotation throughout the weekend.
Two voluntary sector workers were caught up in the bombings - both were on the bus that exploded at Tavistock Square. Gladys Wundowa, an assistant at the Hackney African Organisation, was killed. Louise Barry of the Environmental Investigation Agency is being treated at University College London Hospital.
- See News, page 3.