Swedish cryptocurrency exchange Safello has entered into a strategic partnership with Zumo to comply with sustainability disclosures under MiCAR.
Safello, the leading cryptocurrency exchange in the Nordics, has entered into an agreement with Zumo, a B2B digital assets platform, to facilitate sustainability disclosure requirements under MiCAR.
Through this collaboration, Safello will leverage Zumo’s expertise in carbon calculations and crypto sustainability impact to ensure accurate and transparent sustainability disclosures. This initiative accommodates the requirements in the European Union’s (EU’s) Markets in Crypto-Assets (MiCA) regulation, which through Article 66 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 in relation to which the CASPs offer services.
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In implementing MiCAR, the Swedish Financial Supervisory Authority (FSA) has stipulated a nine-month transition period during which it will grandfather the CASP registrations that were granted before MiCAR came into force. Therefore, Swedish CASPs must obtain their MiCA license by 30 September 2025.
“Compliance is at the core of our business. Partnering with Zumo is one of the steps we are taking to meet MiCA’s sustainability disclosure requirements and ensure we provide accurate data to our customers,” says Tara Abdi, Chief Compliance Officer at Safello.
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“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,” adds 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.”
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As part of the agreement, Safello will now explore Zumo’s Oxygen solution suite, reinforcing its commitment to both regulatory adherence and sustainability within the crypto industry.
Source – PR Newswire
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