On Friday, the Latin American cryptocurrency platform Bitso announced that the company plans to compensate for carbon emissions from its bitcoin and ERC20 token transactions that take place on the platform. Bitso is partnering with the carbon offset platform Moss.Earth to curb the crypto company’s impact on the environment.
Bitso will compensate for carbon emissions in crypto transactions by partnering with Moss.Earth
In mid-February, the cryptocurrency exchange based in Mexico Name discovered it was expanding into the Colombian market after witnessing a growing interest in the Latin American region. Following the announcement of the enlargement on April 22, Bitso announced that it has partnered with a carbon reduction platform, Moss.Earth. According to Bitsou, the partnership aims to offset the carbon emissions of crypto exchanges BTC and ERC20 tokens that the trading platform sends regularly.
Bitso says that “Moss will compensate for all the carbon emissions produced by all bitcoin and ERC20 token transactions on Bitsou.” In addition to these transactions, ethereum, tether (USDT), chainlink (LINK) and shiba inu (SHIB) transactions will be compensated. “This initiative marks the beginning of Bitso’s larger climate initiative aimed at supporting sustainable growth in the region,” Latin American cryptocurrency platforms sent to Bitcoin.com told News.
As the adoption of cryptocurrencies is increasing worldwide, it is imperative that we address environmental impacts. By partnering with Moss – a company at the pinnacle of blockchain and sustainability – we are showing the wider crypto community that innovation and environmental responsibility can and should coexist, ”said Felipe Vallejo Dabdoub, Bitso’s Chief Corporate and Regulatory Officer. announcement. Dabdoub added:
We are really proud to announce that from today all our clients BTC and ERC20 token transactions at Bitso will not affect the environment, and in addition will help conservation projects in the Amazon rainforest.
Environmental concerns over cryptocurrencies have risen significantly in the last 12 months, with Moss CEO hoping to join other crypto companies
During the last 12 months, environmental concerns about cryptocurrency networks (PoW) such as Ethereum and Bitcoin have increased significantly. Politicians and regulators around the world signaling that the impact of the crypto industry on the environment, caused by PoW networks, may require strict public policy measures. Meanwhile, long before bureaucrats and regulators set out on this issue, digital currency companies were proactive towards greener solutions.
Luis Felipe Adaime, CEO and founder of Moss, explained on Friday that the organization hopes other crypto companies will follow Bitso’s leadership. “We are proud to partner with Bitso, an important leader in the digital currency space,” said Adaime. “We hope that other projects in space will follow their example to make up for their carbon footprint.”
What do you think of Bitso’s partnership with Moss to offset the carbon emissions associated with the platform’s crypto transactions? Tell us what you think about this topic in the comments section below.
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