Ripple, the leading enterprise blockchain and crypto solutions company, has been chosen by Thallo as one of its founding partners as the web3 climate startup aims to pioneer the first-of-its-kind blockchain-based carbon credits marketplace.
Over the years, Ripple has been committed to offering solutions to help achieve more efficient and scalable carbon markets. The fintech happens to be the only top crypto company on the 7-man list of Thallo’s founding partners.
Ripple Among Thallo’s Founding Partners
According to a press release, Thallo, a web3 startup that is on the journey of building an efficient and transparent Carbon offset marketplace, entered a strategic partnership with Ripple, Climate Collective, and five other companies as founding partners.
As a founding partner, Ripple will work with the startup to support the development and execution of the flagship Thallo Carbon marketplace. The purpose of this marketplace is to make it easier for buyers and sellers of high-quality carbon credits to find each other.
Joseph Hargreaves, Thallo Co-Founder said, “I’m honoured that some of the most trusted organizations 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.”
Thallo is currently a work in progress and striving to become an aggregated carbon credits marketplace based on blockchain. It seeks to leverage the technology of Ripple and that of the other tech companies to achieve its project target, hence the strategic partnership deal. “These partners are also critical to enabling Thallo to reach its North Star: providing the best platform for project developers,” the announcement mentioned.
The San Francisco-based crypto solutions company became the startup’s preferred choice due to Ripple’s carbon-neutral XRP Ledger’s reliability to scale. Leveraging this factor alongside Ripple’s enterprise readiness, “Thallo will democratize access to verified carbon credits for both institutional and retail investors to help offset their carbon footprints in a way that satisfies their key stakeholders,” Ripple’s Senior Vice President, Social Impact and Sustainability, Ken Weber commented.
Ripple is excited to enter into this partnership as the demand for carbon credits intensifies. Ken Weber stressed that the Silicon Valley company is a blockchain and crypto technology that is uniquely positioned to help support market growth by solving persistent challenges around transparency, traceability, and verification in sectors like carbon credits.