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 is partnering with carbon offsetting platform Moss.Earth to curb the crypto company’s environmental impact.
Bitso offsets the carbon emissions of crypto transactions by partnering with Moss.Earth
In mid-February, Mexico-based cryptocurrency exchange Bitso announced it was expanding into the Colombian market after noticing growing interest in the Latin American region. After announcing the expansion, Bitso announced on April 22 that it had partnered with carbon offsetting platform Moss.Earth. According to Bitso, the partnership aims to offset the crypto exchange’s carbon emissions associated with the BTC and ERC20 tokens that the trading platform regularly sends out.
Bitso says that “Moss will offset all carbon emissions caused by all Bitcoin and ERC20 token transactions on Bitso”. Besides these transactions, transactions are settled with Ethereum, Tether (USDT), Chainlink (LINK) and Shiba Inu (SHIB). “This initiative marks the beginning of Bitso’s larger climate initiative, which aims to support sustainable growth in the region,” the Latin American cryptocurrency platform said in a statement sent to Bitcoin.com News.
As crypto adoption increases globally, it is imperative that we address the environmental impact. By partnering with Moss – a company at the forefront of blockchain and sustainability – we are demonstrating to the larger crypto community that innovation and environmental responsibility can and should coexist,” noted Bitso’s Chief Corporate and Regulatory Officer Felipe Vallejo Dabdoub. Dabdoub added:
We are really proud to announce that from today all BTC and ERC20 token transactions of our customers in Bitso will have zero impact on the environment and on top of that will contribute to conservation projects in the Amazon rainforest.
Crypto-related environmental concerns have risen sharply over the past 12 months, Moss CEO hopes other crypto firms will follow suit
Over the past 12 months, environmental concerns have escalated over Proof-of-Work (PoW) crypto asset networks like Ethereum and Bitcoin. Politicians and regulators around the world have signaled that the crypto industry’s environmental impact caused by PoW networks may require strong public action. Meanwhile, long before bureaucrats and regulators cracked down on this problem, digital currency companies were proactively pushing for greener solutions.
Luis Felipe Adaime, the CEO and founder of Moss, stated Friday that the organization hopes other crypto firms will follow Bitso’s example. “We are proud to partner with Bitso, a key leader in the digital currency space,” said Adaime. “We hope that other projects in this area will follow suit to offset 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? Let us know what you think about this topic in the comment section below.
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