Ripple Labs and Thallo Launch Carbon Credit Marketplace
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Thallo, a Web3 climate startup, and several other companies have joined forces with Ripple Labs Inc., whose payment network is powered by the self-described carbon-neutral token XRP.
Ripple announced they are working with Thallo to create a Web3 carbon offset marketplace using the XRP Ledger. Ripple and Thallo will collaborate to combat climate change while improving the efficiency and transparency of carbon markets.
According to a press release issued by the platform on Monday, Thallo, a Web3 climate startup, will solve the market for carbon credits’ liquidity and pricing transparency issues.
According to Ken Weber, Ripple’s senior vice president of social impact and sustainability, blockchain and cryptocurrency technology are uniquely positioned to support market growth by addressing long-standing issues with transparency, traceability, and verification as demand for carbon credits rises.
Thallo, a Climate Web3 Startup
Thallo’s group is made up of three distinct pillars. The initial partners are Ripple, Climate Collective, VenTree Innovations, InPlanet, and other carbon-reduction initiatives.
Academics and non-profit organizations such as the Carbon Business Council and the Crypto Climate Accord are the second pillar’s integrity partners. The third category, innovation partners, focuses on critical industry elements and provides practical solutions using new technologies.
Chainlink, Aklimate, and the Celo Foundation are among the 14 members of the team.
Binance Has Listed the XRP Token
Despite recent declines, the market value of XRP is currently up about 6%. It has already returned to its September 22 low of $0.47. However, the gains followed news that Binance had added XRP to its Dual Investment products, which boosted Ripple prices. Furthermore, announcing the collaboration with Thallo and Climate Collective contributed to the rise in ripple prices.
The SEC’s lawsuit against Ripple forced several exchanges to delist XRP in late 2020, but it soon became clear that the legal matter had stalled and was no longer proceeding. Binance began to include XRP in new products like Binance’s Dual Investments at the time because it was still one of the top ten cryptocurrencies in the world by market valuation.
As a result, XRP is regaining its position as the third wheel alongside Bitcoin and Ethereum after losing it the previous year to BNB, Solana, and Cardano. Because the SEC’s case against Ripple has not yet been resolved, it is critical to remember that there may still be negative information.
