Ripple Labs Inc., the firm whose payment network is powered by the self-described carbon-neutral cryptocurrency token XRP, has partnered with Web3 climate startup Thallo and various other companies to build a carbon credit market on the blockchain.
See related article: SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit
Fast facts
“Proud to take climate action alongside Thallo, a Web3 carbon offset marketplace using the XRP Ledger to increase the transparency and efficiency in voluntary carbon markets,” Ripple stated in a Tuesday tweet on its official handle.
Thallo’s team consists of experts in climate, sustainability and Web3, and aims to connect users to high-quality carbon credits on the blockchain, according to a Thallo press release on the partnership.
“As the demand for carbon credits intensifies, blockchain and crypto technology are uniquely positioned to help support market growth by solving persistent challenges around transparency, traceability and...
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