Main navigation

Ripple Shakes Up Carbon Markets with New Partnership

Mon, 08/07/2023 - 19:20
article image
Alex Dovbnya
Blockchain firm Ripple is harnessing the power of technology for climate change mitigation, joining hands with climate-focused technology provider Centigrade
Ripple Shakes Up Carbon Markets with New Partnership
Cover image via
Read U.TODAY on
Google News

Blockchain technology firm Ripple has embarked on a transformative initiative aimed at injecting transparency, trust, and integrity into carbon markets.

Carbon markets—mechanisms enabling the trade of carbon credits to offset CO2 emissions—have traditionally been plagued by opacity and skepticism.

Last year, Ripple underscored its commitment to climate change mitigation with a substantial $100 million investment. Now, in partnership with climate-focused technology provider Centigrade, it seeks to further address this global challenge.

Centigrade has launched an open data platform to instill trust in the global voluntary carbon markets.

By offering high-quality data, ease of access, and transparency, the platform aims to foster a liquid, fair, and efficient carbon market.

XRP's Dramatic Falls Continues: When Will It Stop?

The platform is not a trading or rating mechanism; instead, it exists to provide invaluable data to all participants in the carbon credit ecosystem—sellers, buyers, and service providers alike.

In doing so, Ripple and Centigrade are poised to deliver a critical service to the carbon market. The open data platform allows investors to make informed decisions, potentially fostering a more robust supply of high-quality credits and ensuring the effective operation of carbon and nature markets.

This effort forms part of Ripple's broader strategy for combating climate change. Having previously invested in the tokenization of carbon credits, Ripple continues to champion environmentally friendly practices within the cryptocurrency sphere.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at