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Apr 23, 2022
by Jafrin Ahmed
Bitso Will Buy Carbon Offsets for Every Bitcoin Transaction on its Platform
Mexico-based crypto exchange Bitso is pledging to buy carbon offsets for every bitcoin and ERC20 token transaction carried out on the platform in order to curb the crypto company’s environmental impact.
The initiative comes amid the crypto platform partnering with the world’s largest carbon offset platform, Moss.Earth.
“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,” said Felipe Vallejo Dabdoub, Chief Corporate & Regulatory Officer at Bitso.
For each transaction that Bitso processes, in any of the countries in which Bitso operates, Moss will measure the equivalent carbon footprint, and via the acquisition of credits from conservation projects in the Amazon Forest will then buy tokenized “credits from conservation projects in the Amazon Forest in Brazil” to offset the greenhouse gas emissions.
According to Moss’ projections, Bitso’s partnership will save around 342 thousand trees in the Amazon, offsetting approximately 5283 tons of carbon dioxide.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.