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Trading

Bitso To Compensate For Carbon Discharge Originating From Trading Platforms 

In the middle of February, Mexico-based cryptocurrency exchange platform Bitso made it clear that it was boosting its activities in the Colombian market after noticing a growth in interest in the Latin American region.

Coming after the announcement of the expansion on the 22nd of April, Bitso revealed that it has conjoined with the carbon offset platform, Moss Earth.

Bitso stated that the partnership aims to offset the crypto exchange’s carbon emissions related to the BTC and ERC20 tokens the trading platforms dispatches regularly.

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According to Bitso “Moss will offset all carbon emissions produced by all bitcoin and ERC20 token transactions on Bitso.This initiative marks the beginning of Bitso’s larger climate initiative aimed at supporting sustainable growth in the region,” Bitso revealed in a statement sent to Bitcoin.com News explain.

As the adoption and acceptance of crypto expands globally, it is important to address the impact it has on the environment. By forming a partnership with Moss — a company with the state of art blockchain technology and sustainability — they’re demonstrating that innovation and environmental duties will and can exist together.

Felipe Vallejo Dabdoub, Chief corporate and regulatory officer of Bitso, 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”.

Over the last 12 months, concerns about the environment proof of work (POW), crypto platforms like Ethereum and Bitcoin have expanded greatly. Regulators and also politicians have been raising alerts about the environmental implications caused by the POW networks. Digital currency firms have taken it upon themselves to find solutions before the regulators face the issue.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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