Ripple Enters A Partnership With Thallo, A web 3 Carbon Offset Marketplace Using XRPL To Increase The Carbon Market Transparency And Efficiency
According to a tweet shared by Ripple on Monday saying that it is one of the founding partners of Thallo.io, a web 3 carbon offset marketplace built on the XRPL.
Thallo has dubbed Ripple and Climate Collective among its 23 initial partners for its first-of-its-kind blockchain-based marketplace.
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Benefits of Thallo
- It helps solves the issues with liquidity and opaque pricing data in today’s carbon, making it simple for buyers and sellers of high-quality carbon credits to find each other.
- It split teams its team between experts in climate and sustainability as well as web3, working at the intersection of these two industries to make carbon credit marketplaces better.
Commenting on the new partnership, the Thallo Co-founder, Joseph Hargreaves, said:
“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,” he further stated, “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 Three Tiers Of Thallo Partners
It is worth noting that Thallo has three tiers of partners which include Founding Partners, Integrity Partners and Innovation Partners.
Ken Webler, Senior Vice President, Social Impact and Sustainability at Ripple says “As the demand for carbon credits intensifies, blockchain and crypto technology is uniquely positioned to help support market growth by solving persistent challenges around transparency, traceability and verification,”
“In line with Ripple’s commitment to more efficient and scalable carbon markets, the talented team behind Thallo is building a marketplace that will bring more liquidity, greater access to pricing and market data, and an improved certification process to an often opaque, slow and siloed market. By leveraging Ripple’s enterprise readiness and carbon neutral XRPL’s reliability at scale, Thallo is democratizing 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.” The president added
It is worth noting that the market capitalization of Voluntary carbon hit almost $2 billion for the first time in 2021 which is expected to rise to $150 billion in 8 years.
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XRP Market Volume
The demand for the XRP token has been on the rise as its 24-hour trading volume hit an astounding point of 542% at the beginning of the month, according to CoinMarketCap data.
It seems that Ripple has ended the scheduled unlock of the large volume of XRP tokens from the escrow wallet. In this premise, October stands for the period for change of operational pattern concerning the massive release of a billion XRP tokens.
At the moment, the XRP token is currently trading at the $0.4574 price point, up 4.04% in the last 24 hours.
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