Ripple has partnered with Thallo, a web3 climate-conscious startup, to build a new carbon credit marketplace.
The marketplace is pitched as a unique venture that will facilitate high-quality carbon credits to buyers and sellers.
Let's dive into the news.
Ripple collaborates with Thallo to create carbon credit market
Ripple has recently announced a partnership with Thallo, a web3 climate startup, to build a new carbon credit marketplace for buyers and sellers from around the world.
Per the official press release, Thallo has joined with Ripple and 23 other companies to develop the marketplace.
Thallo aims to utilise blockchain technology to democratise carbon markets and make it easier for buyers and sellers to find common ground to initiate trades.
Both companies are moving forward to create a carbon credit marketplace that supports market growth and solves challenges around transparency, traceability, and verification.
Speaking about the company's collaboration with Ripple and others, Thallo's CEO, Joseph Hargreaves, added:
I’m honoured that some of the most trusted organisations in web3 and climate, such as Ripple and Climate Collective, have chosen us as a key partner in tokenized carbon credits. Together, we will help make the voluntary carbon market more effective, helping funds go toward high-quality projects and making it easier for companies to achieve their sustainability goals in a transparent and verifiable way.
The statement further reiterated how Ripple's commitment to more scalable and efficient marketplaces aligns with Thallo's long-term goals.