Bitso to offset carbon emissions from the Trading Platform’s BTC and ETH transactions

On Friday, the Latin American cryptocurrency platform Bitso announced that the company plans to offset carbon emissions from its bitcoin and ERC20 token transactions carried out on the platform. Bitso has partnered with Moss.Earth to reduce the environmental impact of the crypto company.

Bitso to Offset Crypto Transaction Carbon Emissions by Partnering With Moss.Earth

In mid-February, the Mexico-based cryptocurrency exchange Bitso revealed it was expanding into the Colombian market after witnessing a growing interest in the Latin American region. Following the expansion announcement, on April 22, Bitso announced it has partnered with the carbon offset platform, Moss.Earth. 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. According to statements sent by Bitcoin.com News, the Latin American cryptocurrency platform said that this initiative “marks the beginning of Bitso’s larger climate initiative aimed towards supporting sustainable growth in region.”

As crypto adoption grows around the globe, it is imperative that we address our environmental impacts. We are demonstrating to the wider crypto community that innovation can and should coexist by partnering with Moss, a company at forefront of sustainability and blockchain technology,” Felipe Vallejo Dabdoub (Bitso’s chief corporate officer and regulatory officer) said 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.

Crypto-Related environmental concerns Have Increased a Great Deal During the Last 12 Months, Moss CEO Hopes Other Crypto Firms Join

During the last 12 months, environmental concerns about proof-of-work (PoW) crypto asset networks like Ethereum and Bitcoin have increased a great deal. 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 firms were proactive in seeking greener solutions long before regulators and bureaucrats took action.

Luis Felipe Adaime, CEO and Founder at Moss, explained that the company hopes other cryptocurrency firms will follow Bitso’s lead on Friday. Adaime stated that Bitso is an important leader in the digital currency sector and that they are proud to be a partner. “We hope that other projects in the space will follow our lead to offset their carbon footprint .”

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What do you think about Bitso partnering with Moss to offset carbon emissions tied to the platform’s crypto transactions? Please comment below to let us know your thoughts on this topic.

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