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SFOX, UPA to make Universal Carbon globally accessible

Thursday 7 January 2021 13:42 CET | News

US-based SFOX and Universal Protocol Alliance (UPA), a coalition of blockchain companies have announced a collaboration to work together to combat global climate change.

SFOX is an independent crypto broker. The collaboration intends to fulfil its purpose beginning by taking steps to make Universal Carbon (UPCO2) globally accessible to any digital wallet or exchange that wants to offer its clients the opportunity to buy carbon credit token.

In 2020 UPA launched Universal Carbon (UPCO2), a tradable REDD+ carbon credit token. Each UPCO2 Token represents one tonne of CO2 pollution averted by a certified REDD+ project preventing rainforest loss or degradation. Every Token is backed by a Verified Carbon Unit [VCU], a digital certificate issued by Verra and other international standards agencies, which allows certified projects to turn their greenhouse gas (GHG) reductions into tradable carbon credits.

As with all UPA stablecoins and crypto-commodity tokens, Universal Carbon is available to any digital wallet, digital exchange or any entity that would like to make these digital solutions available to its customers.

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Keywords: SFOX, UPA, partnership, Universal Carbon, blockchain, climate change, cryptocurrency, UPCO2, carbon tokens, REDD+, VCU
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies