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Thursday, June 1, 2023

Bitso to Offset Carbon Emissions From the Trading Platform’s BTC, ETH, ERC20 Transactions

Bitso to Offset Carbon Emissions From the Trading Platform’s BTC, ETH, ERC20 Transactions – Bitso, a Latin American cryptocurrency exchange, revealed on Friday that it wants to offset carbon emissions from bitcoin and ERC20 token transactions on its platform. Bitso has partnered with Moss.Earth, a carbon offset marketplace, to reduce the crypto company’s environmental effect.

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Bitso, a cryptocurrency exchange based in Mexico, said in mid-February that it was expanding into the Colombian market after seeing an increase in interest in the Latin American region. Following the expansion announcement, Bitso stated on April 22 that it had collaborated with Moss.Earth, a carbon offset platform. 

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The agreement, according to Bitso, intends to offset the crypto exchange’s carbon emissions related to the BTC and ERC20 tokens it gives out on a monthly basis.

According to Bitso, “all carbon emissions made by all bitcoin and ERC20 token transactions on Bitso will be mitigated by Moss.” These transactions would be offset by tether (USDT), shiba inu (SHIB), ethereum, and chainlink (LINK). “This effort is the beginning of Bitso’s larger climate campaign designed to encourage sustainable growth in the region,” the Latin American cryptocurrency platform said.

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“While the use of Cryptocurrency expands over the globe, it’s vital that we think about the environmental consequences. We’re demonstrating to the greater crypto community that technology and environmental responsibility can and should coexist by teaming with Moss, a startup at the cutting edge of sustainability and blockchain.” Felipe Vallejo Dabdoub, Bitso’s chief corporate and regulatory officer, gave a comment during the announcement.

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Dabdoub stated:

“We are glad to announce that all of our clients’ ERC20 and BTC token activities in Bitso as of today, will have no harmful impact on the environment and would contribute to the sustainability of the Amazon rainforest.”

Luis Felipe Adaime, Moss’ CEO and Founder, indicated on Friday that the company expects more crypto companies to follow Bitso’s lead. 

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