UPCO2 becomes first tradable carbon credit token listed on Bittrex Global

Fin is a former junior editor at TechForge.

Universal Carbon (UPCO2) has become the first environmental crypto commodity to be listed on leading digital asset trading platform Bittrex Global.

UPCO2 is marketed as the world’s first tradable REDD+ carbon credit token and was launched on December 1 2020. As this publication reported last month, crypto broker Uphold noted the concept as one which “democratises access to millennials… 90% [of whom] now cite impact investing as their top strategy with climate change as the most important theme.”

“We are excited to be providing every Bittrex Global user with access to UPCO2,” said Tom Albright, CEO at Bittrex Global.

“With this important new listing, we’re enabling institutional and retail investors to both invest in the appreciation of carbon credits and offset carbon footprints while helping to save the world’s rainforests.”

In the build-up to the creation of UPCO2, the Universal Protocol Alliance (UPA) consulted many of the world’s leading carbon experts, ultimately forming the UP Carbon Foundation. The UP Carbon Foundation’s role will be to ensure that the carbon credits underlying UPCO2 are diverse, of unimpeachable quality, and, where possible through block issuance, the money paid for fully performed credits can immediately flow into the expansion of protected acreage.

Matthew Le Merle, chairman of UPA, said: “We believe Universal Carbon is the best way to achieve the mission of protecting the world’s remaining rainforests and are excited that Bittrex Global agrees. We plan to jointly submit our technological breakthrough for one of the X Prize Foundation awards that Elon Musk is sponsoring.”

“With the advent of digital carbon credits, an entire world of possibilities open up, creating an efficient conduit for market forces to deliver outsize results precisely where they’re most needed,” Le Merle added.

Photo by Anne Nygård on Unsplash

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

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