Crypto.com Signs Agreement to Curb Carbon Emissions

To neutralize its direct carbon emissions, Crypto.com has purchased technological carbon dioxide removal from Climeworks. The cryptocurrency exchange aims to advance the case for sustainability of digital finance.

Financial technologies companies are implementing realistic and effective solutions to be more sustainable.
Source: Unsplash

Singapore-based Crypto.com, which amasses over 70 million customers worldwide and leads in regulatory compliance, has announced its 8-year carbon renewal deal with Climeworks.

Known for its technology, which captures carbon dioxide from the air, Swiss company Climeworks has previously worked with Crypto.com’s partner Shopify — an e-commerce platform for online stores — on similar assessments and measurements of the company’s carbon footprint, which determine the most effective method of removing residual emissions.

With sustainability taking forefront in cryptocurrency advancements, many companies and tokens are looking for meaningful solutions. Ethereum’s Merge, which took place in September 2022, was a transition from a proof-of-work (PoW) to a proof-of-stake (Pos) consensus system. The merge slashed Ethereum’s energy consumption by a colossal 99.95%.

“We are committed to tackling the pressing climate challenge and continuing our efforts continuously,” said Eric Anziani. President and COO of Crypto.com. Anziani also stressed the importance of forging a more sustainable path for the entire industry.

Crypto.com was founded in 2016 on a very simple vision: that cryptocurrency should be in every wallet. In its commitment to accelerate the adoption of cryptocurrency through innovation, Crypto.com is implementing carbon removing technologies to ensure the fruit of its labors last.