Climatetrade partners with Algorand and receives investments from Borderless Capital
Climatetrade announced a partnership and joint investment. They will use the Algorand network in their blockchain system. The team believes that the new partnership will help them improve technology more quickly.
The investment news includes Borderless Capital that has invested 1 million euros in Climatetrade in its seed round.
Offering better decentralized services focused on climate change
The new partnership with Algorand helps Climatetrade improve its blockchain offerings. They currently work with large companies such as Iberia, Melià Hotels, Cabify and Telefónica to offset their carbon footprint. Clients are served in a carbon market by exchanging their footprint tokens with carbon credits.
Algorand is a public blockchain network, and Climatetrade has chosen them to enhance the infrastructure level of the platform. They believe that the recent partnership will make the Climatetrade blockchain more efficient, transparent and inclusive.
The recent partnership with Climatetrade helps Algorand expand its customer base. W. Sean Ford, Algorand's chief operating officer, said:
“Climatetrade's selection of Algorand to drive a global market for carbon offsetting is a major shift in the way organizations can achieve carbon neutrality. By making carbon offsetting more accessible and efficient, Climatetrade is poised to generate far-reaching environmental impact through its extensive network – all with blockchain.
Borderless Capital's new investment will help Climatetrade expand its reach. They will be able to open markets in the US with fresh money. In addition, Climatetrade will open its first office in Silicon Valley to attract new clients in that region.
Working with startups and high-tech companies in Silicon Valley is an excellent opportunity for Climatetrade to better showcase its capabilities.
“After analyzing various technology providers and rigorous due diligence, we chose Algorand as the blockchain infrastructure to power our platform. We have no doubt, Algorand is the perfect solution due to its flexible architecture, low transaction fees, and scalability of transactional performance. They are the only pure Proof-of-Stake Network (PPoS), and we have an aligned business vision, "said Francisco Benedito, CEO of Climatetrade."
Although many believe that some blockchain and cryptocurrency networks are a threat to the global climate, there are many blockchain projects that focus on the problems of climate change.
Climatetrade is one of the leaders trying to facilitate carbon neutrality activities in companies. Your new partnership and investment show serious programs to improve services and attract more customers. The Borderless Capital investment is a perfect help towards that path, without a doubt.
“We are excited and proud to join ClimateTrade. Using Algorand's technology and blockchain to make the planet a better place is at the core of our investment philosophy and mindset, ”said David Garcia, CEO and Managing Partner of Borderless Capital.
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