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Amber Group, a leading cryptocurrency trading company, has announced a partnership with climate tech company Moss Earth that tokenizes carbon credits and develops an environmental platform that utilizes those credits.
Partnership details
The main part of the deal is to purchase MCO2 tokens worth 250,000 carbon tons. The above-mentioned amount of tokens is sufficient for offsetting the environmental damage done by more than 280,000 Bitcoin transactions.
As noted by the founder and the CEO of Amber Group, climate change is one of the main issues of the modern world, especially for the companies working in the blockchain or cryptocurrency industry. The company is on a path of creating a carbon-negative pledge, and the partnership with Moss Earth is another step in that direction.
Amber Group will also be working toward neutralizing its current carbon footprint by providing various options for its users that are willing to decrease their own carbon emissions.
The carbon emission regulation coming from each user will be realized through Moss Earth’s MOC2 tokens that can be purchased by each user to offset the carbon footprint.
How Moss offsets the carbon footprint
Each MCO2 token equals one carbon credit, which is a digital asset that acts as proof of prevention of one ton of carbon dioxide emittance. The token has been launched by Moss Earth in March 2020. By minting and certifying the prevention of carbon emittance, users are able to fund the projects in the Amazon rainforest that are aimed at neutralizing the environmental impact that is present today.
Founder and CEO of Moss have expressed his feeling regarding the most recent partnership with the Amber Group fintech unicorn that ventured into the battle against climate change. The company is honored by Amber Group’s choice. Adding liquidity to carbon emission offsetting is one of the steps of globalization in the fight for climate and environmental stability.
Currently, the world is becoming one step closer to the global emergency caused by the human impact on the Earth’s ecosystem. Due to the high usage of the electricity, cryptocurrency and mining industry is one of the largest carbon emitters. With projects like Amber Group, more companies from the industry will think about their impact on the environment.
Businesses have to take responsibility and help their users and investors to contribute to fighting global warming and environmental issues. Crypto and fintech startups are the ones who have to act more intensively to contribute towards those important goals, says Michael Wu.
About Amber Group
Amber Group is a financial services provider, which operates globally and has raised $128 million in funding to date from the top investors in the crypto world, including Tiger Global Management, DCM Ventures, Paradigm, Coinbase Ventures, and others.
About Moss and MCO2 token
Moss is a company focused on creating a modern technology ecosystem for providing environmental services available globally. Last year, the company created its first carbon credit-backed token designed for offsetting greenhouse gases. With the help of the company’s customers, Moss collected more than $15 million and donated it to the Amazon rainforest, which helped to preserve more than 500 million trees.
The flagship MCO2 token is listed on various platforms, including Mercado Bitcoin, Uniswap, and Gemini.
A carbon credit is a digital certificate that allows avoiding the emission of one ton of CO2 in a year by conserving the Amazon rainforest.
Alex Dovbnya
Valeria Blokhina
Vladislav Sopov
