Bitso, the leading cryptocurrency platform in Latin America, with more than 4 million users, is honoring Earth Day by partnering with the world’s largest carbon offset platform, Moss.Earth. Through the partnership, Moss will offset all carbon emissions produced by all bitcoin and ERC-20 token transactions on Bitso, including ether, Tether, Chainlink, and Shiba Inu. This initiative marks the beginning of Bitso’s larger climate initiative aimed at supporting sustainable growth in the region.
According to a University of Cambridge analysis, Bitcoin energy consumption increased almost 62-fold between 2015 and March of 2021. While estimates point to 39 to 73 percent of this energy being produced through renewable sources, there remains a lot of work for the crypto community to offset its environmental impact.
“As crypto adoption increases throughout the world, it’s imperative that we address environmental impacts.” 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. “We are really proud to announce that as of today, all our clients’ BTC and ERC-20 token transactions in Bitso won’t impact the environment, and moreover will help contribute to conservation projects in the Amazon rainforest.”
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 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. Each MCO2 token is equivalent to a single carbon credit – one ton of carbon dioxide that is no longer emitted into the atmosphere thanks to initiatives that are part of the REDD and REDD+ mechanism (Reducing Emissions from Deforestation and Forest Degradation added to the conservation of the territory).
“We’re proud to partner with Bitso, an important leader within the digital currency space”, said Luis Felipe Adaime, CEO and Founder of Moss. “Our hope is that other projects within the space will follow suit to offset their carbon footprint.”
Moss was established in 2020 to provide individuals and businesses with blockchain-based avenues for combating climate change. As the first company to tokenize carbon credits and the issuer of the world’s first and most liquid carbon credit token, MCO2, Moss allows individuals to purchase and trade carbon credits. Recently, the organization also began offering tokenized governance and economic rights to small forest areas in the form of NFTs. Now, in partnering with Bitso, Moss is creating a replicable framework that future exchanges can follow to offset the carbon emissions produced by transactions on their platforms.
Bitso is the leading Latin American crypto-first platform with a community of over 4 million users. The company offers three main products: the Bitso App for new or experienced cryptocurrency users to buy, sell, send, or receive crypto in a simple and intuitive way; Bitso Alpha, a professional-grade crypto trading platform; and Bitso Business, a suite of cross-border products that enable businesses to thrive in a global digital economy. Bitso is one of the few crypto exchanges, and the only one in Latin America, to obtain a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission (GFSC), a sovereign agency that has developed one of the most advanced frameworks for regulating cryptocurrency trading. Bitso is also the first and only exchange in Latin America to insure its users’ funds.
Founded in 2014, with over 600 employees across 32 different countries, Bitso is working to make crypto useful by liberating the world from traditional financial players and redefining money.
To learn more about Bitso, visit bitso.com.
Moss is a climate tech company offering environmental services through blockchain knowledge. In 2020, it created MCO2, the first carbon credit-backed token used to offset greenhouse gases. Since March 2020, Moss has transacted over US$ 30 million that have helped to conserve approximately 152 million trees in the Amazon through internationally certified and audited projects. The MCO2 token is listed globally on Coinbase, Gemini, Gate.io and Probit.