iDenfy Partners With CO2IN To Enhance Carbon Credit Security

iDenfy Partners With CO2IN To Enhance Carbon Credit Security - Carbon Herald
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iDenfy, a Lithuania-based tech company specializing in identity verification and fraud prevention tools, has recently partnered with Czech fintech CO2IN with the goal of enhancing carbon credit security.

CO2IN‘s main objective is to reduce carbon emissions by introducing proprietary carbon credits to the global market, and iDenfy will play a crucial role in establishing an automated verification process for high-risk users, ultimately bolstering the security of carbon credit sales.

Using its trademarked technology, CO2IN has been working on the mission of reducing carbon emissions since its establishment in 2020.

Currently, the fintech company runs a mobile app that creates voluntary carbon credits, which provide users with the opportunity to purchase EU emission allowances. As announced on their website, 100 CO2IN equals 1 emission allowance. This enables both individuals and businesses to offset their carbon footprints efficiently.

Simultaneously, CO2IN offers corporate social responsibility (CSR) services that comply with the latest regulations mandated by the European Union.

This innovative platform enables individuals to track their environmental impact, particularly in relation to their everyday journeys, and subsequently acquire credits through a mobile application.

These credits can be used as a mode of payment with a diverse array of partners and vendors, facilitating a seamless and sustainable approach to transactions.

Relevant: TEM Partners With Sylvera To Boost Carbon Credits Due Diligence

The partnership will be powered by iDenfy’s identity verification technology, which plays a crucial role in detecting fraudulent information provided by individuals when creating accounts. This will streamline the registration process and increase conversion rates.

iDenfy’s methods comply with anti-money laundering (AML) rules, which caught the interest of CO2IN, as the company was seeking a cost-efficient solution like the one provided by iDenfy.

By combining their expertise and resources, the two companies have developed innovative solutions that not only empower businesses and individuals but also have a positive impact on the environment.

As they move forward into 2024, both CO2IN and iDenfy remain committed to delivering new and inventive ways to tackle environmental issues.

Read more: CarbonPool Raises $12M For Novel Approach To Carbon Credits Insurance

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