Bitso, a Latin American cryptocurrency platform announced Friday that it plans to offset carbon emissions due to its ERC20 token and bitcoin transactions. Bitso is partnering with the carbon offset platform Moss.Earth in order to curb the crypto company’s environmental impact.
By partnering with Moss.Earth, Bitso will offset carbon emissions from crypto transactions
Bitso, a Mexican cryptocurrency exchange, announced in February that it would be expanding its presence into Colombian markets after seeing a rising interest in Latin America. Bitso made the announcement that the partnership with Moss.Earth was made after the April 22 expansion. According to Bitso, the partnership aims to offset the crypto exchange’s carbon emissions tied to the BTC and ERC20 tokens the trading platform sends on a regular basis.
Bitso says that “Moss will offset all carbon emissions produced by all bitcoin and ERC20 token transactions on Bitso.” Alongside these transactions, ethereum, tether (USDT), chainlink (LINK), and shiba inu (SHIB) transactions will be offset. “This initiative marks the beginning of Bitso’s larger climate initiative aimed at supporting sustainable growth in the region,” the Latin American cryptocurrency platform’s statements sent to Bitcoin.com News explain.
As crypto adoption increases throughout the world, it’s imperative that we address environmental impacts. By partnering with Moss – a company at the cutting edge of blockchain and sustainability – we’re demonstrating to the larger crypto community that innovation and environmental responsibility can and should co-exist,” Felipe Vallejo Dabdoub, Bitso’s chief corporate and regulatory officer remarked during the announcement. Dabdoub also added:
We are really proud to announce that as of today, all our clients’ BTC and ERC20 token transactions in Bitso won’t impact the environment, and moreover will help contribute to conservation projects in the Amazon rainforest.
The number of crypto-related environmental issues has increased a lot over the last 12 months, Moss CEO hopes that other cryptocurrency firms will join.
In the past 12 months, concerns over proof-of work (PoW), crypto asset networks such as Bitcoin and Ethereum have grown significantly. Politicians and regulators across the globe have been signaling that the crypto industry’s environmental impact, caused by PoW networks, may need strict public policy measures. Digital currency companies have been actively seeking greener solutions long before regulators and bureaucrats took action.
Luis Felipe Adaime the CEO and Founder of Moss explained on Friday that the organization hopes other crypto firms will follow Bitso’s lead. “We’re proud to partner with Bitso, an important leader within the digital currency space,” Adaime said. “Our hope is that other projects within the space will follow suit to offset their carbon footprint.”
What do you think about Bitso partnering with Moss to offset carbon emissions tied to the platform’s crypto transactions? Comment below and let us know how you feel about the subject.
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