Bitso has partnered with Moss.Earth, a carbon offset platform, to reduce the company's environmental footprint.
By partnering with Moss.Earth, Bitso will offset carbon emissions from crypto transactions
Mid-February saw the Mexican-based cryptocurrency exchange bitso announce that it would be expanding into Colombian markets after seeing a growing interest from the Latin American region. Bitso, following the announcement of its expansion, announced that it had partnered with the carbon offset platform Moss.Earth. Bitso claims that the partnership will offset the crypto exchange’s carbon emissions related to the Bitcoin and the ERC20 tokens it sends on an ongoing basis.
Bitso claims that Moss will offset all carbon emissions from all Bitso bitcoin and ERC20 token transaction transactions. This initiative is the start of Bitso’s larger climate initiative that aims to support sustainable growth in the region," explained the Latin American cryptocurrency platform.
It is imperative that we address the environmental impact of crypto adoption as it grows around the globe. We are proving to the wider crypto community that innovation can and should coexist by partnering with Moss, a company at forefront of sustainability and blockchain," Felipe Vallejo Dabdoub was Bitso's chief corporate officer and regulatory officer. Dabdoub said:
We are proud to announce that all BTC transactions of our clients in Bitso will not impact the environment and will contribute to conservation projects for the Amazon rainforest.
The number of crypto-related environmental issues has increased a lot over the last 12 months, Moss CEO hopes that other crypto firms will join.
Concerns regarding proof-of-work (PoW), crypto asset networks such as Bitcoin and Ethereum have increased significantly over the past 12 months. Regulators around the world have been warning about the potential environmental damage caused by PoW networks in the crypto industry. Digital currency firms were proactive in seeking greener solutions long before regulators and bureaucrats took action.
Luis Felipe Adaime, the CEO and founder of Moss, explained Friday that the company hopes that other crypto firms will follow Bitso’s lead. Adaime stated, "We are proud to partner Bitso. They are an important leader in the digital currency sector." "We hope that other projects in the space will follow their lead to offset their carbon footprint."