Aurus, the decentralised blockchain platform offering tokenised precious metals, has partnered with Coorest to bring sustainability to the precious metals market. The companies have struck a green deal that incentivises using Aurus' platform and tokens.
Coorest will start offering users a 20% discount on Coorest's CO2 tokens ($CCO2) when they pay with tGOLD, tSILVER and tPLATINUM. Aurus has set the standard in precious metals tokenization, where each token is 1:1 backed by and redeemable for 1 gram of physical gold, silver and platinum. The metals are stored in a decentralized ecosystem, fully insured and audited in vaults around the world.
This partnership encourages more users to participate in two growing markets, gaining access to inflation hedge assets while contributing to the carbon economy by compensating for their carbon emissions.
Nick Zwaneveld, CEO at Coorest, said: “This partnership with Aurus represents a significant step towards environmental sustainability in the precious metals market. By offering our CO2 tokens at a discounted rate, we hope to encourage more people to contribute to mitigating the negative effects of mining on the environment."
While Coorest will enable its community to buy tokenized precious metals on its platform with a top-up of CO2 tokens, Aurus is also looking to add the option to buy $CCO2 directly from its dApp.
Mark Gesterkamp, CBDO at Aurus, said: "Our partnership with Coorest opens up the discussion on how blockchain technology can contribute to the framework surrounding ESG (Environmental Social Governance) in mining and the precious metal market. We look forward to exploring additional opportunities to promote environmental sustainability."
The extraction of precious metals is harmful to the environment, causing destruction to landscapes, polluting clean water, and creating toxic waste. The mining of gold, silver, and platinum emits 66 881 612 kg of CO2 annually, being a huge contributor to the global carbon footprint.
Aurus and Coorest are taking steps to increase sustainability in the mining and trading of precious metals. By having the option to purchase carbon compensation natively on the platform, Aurus users can contribute to mitigating the negative effects of mining on the environment and collectively makße a big positive difference.