Safello is a provider of cryptocurrency exchange which serves over 400,000 users and promoting financial independence by making crypto accessible. It provides a secure platform for buying, selling, storing, and transacting cryptocurrencies with high speed. Registered as a financial institution with Finansinspektionen since 2013, Safello has been listed on Nasdaq First North Growth Market since 2021.
Through this partnership, Safello will utilise Zumo’s expertise in carbon calculations and the sustainability impact of cryptocurrencies to provide accurate and transparent sustainability disclosures.
Zumo is a crypto-as-a-service platform that enables banks, fintechs, and businesses to launch sustainable digital asset solutions. It aims to promote mainstream adoption of digital assets through user-friendly financial tools via APIs. This collaborative effort aligns with the European Union’s (EU) Markets in Crypto-Assets Regulation (MiCAR), which, under Article 66, requires crypto asset service providers (CASPs) operating within the EU to present sustainability disclosures on their websites regarding the environmental impact of the digital assets they support.
In the implementation of MiCAR, the Swedish Financial Supervisory Authority (FSA) has established a nine-month transition period during which it will honour CASP registrations granted before MiCAR’s enforcement. Consequently, Swedish CASPs are required to obtain their MiCA license by 30 September 2025. Officials from Safello stated that compliance is important to its operations. Partnering with Zumo is one of the steps that the company is taking to meet MiCAR's sustainability disclosure requirements and that it provides accurate information to the clients.
In January 2025, Zumo released a report analysing the preparedness of crypto-asset service providers for MiCA, particularly focusing on sustainability requirements. Entitled the MiCA CASP Sustainability Readiness Assessment, the report highlighted a significant knowledge gap among service providers regarding MiCA's sustainability compliance obligations.
The survey revealed that although 75% of respondents considered themselves 'very familiar' with MiCA regulations, less than one-third reported having a thorough understanding of its sustainability reporting requirements.
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