Zumo fügt MiCA-konforme Nachhaltigkeitskennzahlen zu Oxygen-Produkten vor Ablauf der Frist im Dezember hinzu

The new feature is the latest step in Zumo's award-winning sustainability journey, with the company committed to helping drive a more sustainable

Digital assets platform Zumo has added MiCA-compliant sustainability metrics to its Oxygen product, which helps providers to automate and simplify new sustainability indicator requirements ahead of MiCA’s December deadline.

The new feature is the latest step in Zumo’s award-winning sustainability journey, with the company committed to helping drive a more sustainable, compliant digital assets sector.

Edinburgh & London, Wednesday 18 September 2024 – Zumo, the B2B digital assets infrastructure, has launched a new out-of-box feature that enables crypto-asset service providers (CASPs) active in the European Union (EU) to comply with the upcoming sustainability requirements of the Markets in Crypto-Assets (MiCA) regulation.

MiCA was introduced to implement uniform EU market rules for crypto-assets. Among its many requirements is one that has flown under the radar for many CASPs: new sustainability indicator requirements, drafted by the European Securities and Markets Authority (ESMA), covering the environmental impact of their offered crypto-assets. Recent industry research has suggested that more than 80% of CASPs may be unaware of the need to report ESG data from ESMA’s deadline of 30 December.

As mandated in MiCA Article 66, CASPs – including exchanges, brokerages, custodians and trading firms – that are active in the EU, or wish to provide their services into the EU, will need to have a compliant website disclosure covering the environmental impact of offered crypto-assets in place from 30 December 2024. Failure to comply will risk a potential fine of at least 5 million euros or 5% of a provider’s total annual turnover.

Zumo’s Oxygen MiCA compliance module helps CASPs to easily access MiCA-compliant sustainability metrics for their listed crypto-assets. The solution draws on best-in-class sustainability data from Crypto Carbon Ratings Institute (CCRI), one of Zumo’s strategic partners, and further builds on Zumo’s Oxygen proposition, first introduced to help providers of crypto-asset services better align their digital asset activities with net zero principles.

The new feature will help CASPs across the EU to streamline and simplify their sustainability compliance through auto-generated MiCA website disclosure reports.

Nick Jones, Founder and CEO, Zumo, said: “MiCA’s sustainability requirements are going live to a tight deadline, and bring with them complex data questions as well as potentially hefty fines.”

“It’s become clear that CASPs across Europe simply aren’t ready. In response, we’ve taken another important step on our sustainability journey to add the indicators that will enable service providers to comply with current and future sustainability compliance requirements. With our MiCA solution, CASPs will be able to access a single interface that helps them cut through all the complexity associated with pulling data together, formatting an appropriate template, and providing the output that ESMA is looking for.”

Zumo is widely seen as a pioneer for its sustainability work in the digital assets sphere. The company was a member of the World Economic Forum’s Crypto Sustainability Coalition, which explored how blockchain tools can be leveraged to contribute to meaningful progress towards climate action, and recently signed the Abu Dhabi Sustainable Finance Declaration. Zumo’s employees also co-founded the Emerging Technologies Sustainability Taskforce (ETST), created to ensure the specific characteristics of emerging technologies, such as blockchain, are encapsulated so the standards used for sustainability across the global digital assets sector are fit for purpose.

The addition of the sustainability indicators to the Oxygen product further cements Zumo’s commitment to helping the world’s financial institutions establish a sustainable, compliant digital assets sector. The company’s contribution to climate work has been recognized via a number of prestigious awards programs, including the Fintech Finance Awards, the City AM Awards, and the Scottish Financial Technology Awards.

About Zumo

Zumo is an award-winning crypto-as-a-service platform, registered with the Financial Conduct Authority (FCA). It provides banks, fintechs and other businesses with the infrastructure they need to launch sustainable digital asset solutions.

Der Zweck des Unternehmens besteht darin, zum Aufbau einer finanziellen Zukunft beizutragen, die neue Möglichkeiten schafft und gleichzeitig einen positiven Einfluss auf den Planeten hinterlässt. Um dies zu erreichen, entwickelt Zumo benutzerfreundliche Finanztools, die Unternehmen nahtlos über APIs einbetten können, sodass digitale Vermögenswerte vom Mainstream-Markt übernommen und jeden Tag beruhigt genutzt werden können.

Zumo war einer der ersten Unterzeichner des Krypto-Klimaabkommens und hat sich in enger Zusammenarbeit mit dem Weltwirtschaftsforum zu einem wichtigen Mitwirkenden an Branchenleitlinien zur Dekarbonisierung digitaler Vermögenswerte entwickelt. Die Mitarbeiter von Zumo waren außerdem Mitbegründer der Emerging Technologies Sustainability Taskforce (ETST), um sicherzustellen, dass die spezifischen Merkmale neuer Technologien wie Blockchain gekapselt werden, damit die Standards für Nachhaltigkeit im globalen Sektor der digitalen Vermögenswerte ihren Zweck erfüllen.

Weitere Informationen finden Sie unter: Zumo | Ihre Digital-Assets-as-a-Service-Plattform

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