On Friday, Latin American cryptocurrency platform Bitso announced that the company plans to offset carbon emissions from its bitcoin and ERC20 token transactions conducted on the platform. Bitso partners with carbon offset platform Moss.Earth to limit the crypto company’s environmental impact.
Bitso to Offset Carbon Emissions from Crypto Transactions by Partnering with Moss.Earth
In mid-February, Mexico-based cryptocurrency exchange Bitso revealed that it was expanding into the Colombian market after seeing growing interest in the Latin American region. Following the expansion announcement, on April 22, Bitso announced that it had partnered with carbon offset platform, Moss.Earth. According to Bitso, the partnership aims to offset the crypto exchange’s carbon emissions related to the BTC and ERC20 tokens that the trading platform regularly sends out.
Bitso says that “Moss will offset all carbon emissions produced by all bitcoin and ERC20 token transactions on Bitso.” Along with these transactions, Ethereum, Tether (USDT), Chainlink (LINK), and Shiba Inu (SHIB) transactions will be cleared. “This initiative marks the beginning of Bitso’s broader climate initiative to support sustainable growth in the region,” explained statements from the Latin American cryptocurrency platform sent to Bitcoin.com News.
As the adoption of cryptography increases around the world, it is imperative that we address the environmental impacts. By partnering with Moss – a company at the forefront of blockchain and sustainability – we are demonstrating to the entire crypto community that innovation and environmental responsibility can and should co-exist,” said Felipe Vallejo Dabdoub, Director general and chief regulatory officer of Bitso. the announcement. Dabdoub added:
We are really proud to announce that starting today, all transactions of BTC and ERC20 tokens from our customers to Bitso will have no impact on the environment and will additionally contribute to conservation projects. in the Amazon rainforest.
Environmental Concerns Over Crypto Have Grown Significantly Over Past 12 Months, Moss CEO Hopes Other Crypto Firms Will Join In
Over the past 12 months, environmental concerns about proof-of-work (PoW) crypto asset networks like Ethereum and Bitcoin have increased significantly. Politicians and regulators around the world have signaled that the environmental impact of the crypto industry, caused by PoW networks, may require strict public policy measures. Meanwhile, long before bureaucrats and regulators cracked down on this issue, digital currency companies were proactive toward greener solutions.
Luis Felipe Adaime, CEO and founder of Moss, explained on Friday that the organization hopes other crypto companies will follow Bitso’s lead. “We are proud to partner with Bitso, an important leader in digital currency,” Adaime said. “Our hope is that other projects in space will follow to offset their carbon footprint.”
What do you think of Bitso’s partnership with Moss to offset carbon emissions from the platform’s crypto transactions? Let us know what you think about this topic in the comments section below.
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