One of the leading cryptocurrency exchanges out of the Nordic region, Safello, has entered into a sustainability agreement with digital assets platform Zumo.
The Edinburgh-based Zumo will assist Safello’s compliance with sustainability rules laid out by the Markets in Crypto Assets (MiCA) by leveraging its carbon calculation and crypto sustainability impact solutions to ensure accurate and transparent disclosures.
Tara Abdi, Chief Compliance Officer at Safello, said: “Compliance is at the core of our business. Partnering with Zumo is one of the steps we are taking to meet MiCAR’s sustainability disclosure requirements and ensure we provide accurate data to our customers.
This joint initiative accommodates the requirements in the European Union’s (EU’s) MiCA laid out in Article 66. It mandates crypto asset service providers (CASPs) active in the EU to display sustainability disclosures on their websites on the environmental impact of the digital assets for which they offer services.
In implementing MiCA, the Swedish Financial Supervisory Authority (FSA) has stipulated a nine-month transition period during which it will offer CASP registrations that were granted before MiCA came into force. Therefore, Swedish CASPs must obtain their MiCA license by 30 September 2025.
“Safello is a market leader in the Nordics so we’re delighted the team has chosen to partner with Zumo to help meet new regulatory requirements,” added Nick Jones, Founder and CEO, Zumo.
“Our award-winning Oxygen product was introduced to help CASPs better align their digital asset activities with net zero principles and adopt more sustainable practices. We’re committed to supporting CASPs at every stage of their sustainability journey, and complying to the MiCAR sustainability requirements is a critical first step.
“By championing actionable steps, and providing new, accessible solutions, we’re supporting the transition towards a more transparent, sustainable, and compliant crypto industry.”
