AlgoTrader and Peer-Energy Develop Carbon-Compensated Crypto Trading

AlgoTrader and Peer-Energy develop the Green Bitcoin Wallet, a retail product for banks seeking to offer carbon-compensated crypto trading to their clients. The joint project succeeded at Basellandschaftliche Kantonalbank’s (BLKB) accelerator program.

23 September 2021

Zurich – AlgoTrader, a leading technology provider for institutional-grade digital assets trading, and sustainable technology innovator Peer-Energy formed a partnership to develop carboncompensated crypto trading for banking clients. Their product, the Green Bitcoin Wallet, will enable banks to expand their revenue base while boosting their environmental footprint. The partnership takes the digital asset ecosystem further in the quest for sustainability.

Combining revenue and sustainability for banks
With their project, AlgoTrader and Peer-Energy succeeded at the accelerator program run by BLKB and Venturelab. For the Swiss bank, opening new revenue streams while underscoring its commitment to sustainability and innovation was the perfect strategic match.

The Green Bitcoin Wallet executes carbon compensation through a peer-to-peer network. In contrast to conventional carbon offset contributions, Peer-Energy’s blockchain-based PEP tokens represent carbon which gets programmatically avoided. The money paid for the tokens contributes to local energy transition, efficiency gains and innovations. The product’s inherent transparency – tracking each transaction and its corresponding carbon offset – will also comply with ESG reporting standards.

While interest in digital assets has never been higher, there is increasing concern about the environmental cost. Peer-Energy calculates that although a Bitcoin transaction costs the user only USD 7, the carbon cost is USD 45. A Bitcoin block that may generate USD 200,000 in mining reward at current prices also entails a shocking USD 166,000 energy cost.

Innovating digital asset trading
AlgoTrader founder and CEO Andy Flury said: “The market is ripe for client-focused offerings that foreground sustainability. Banks that can give retail customers easy-to-use tools to access digital asset trading will be one step ahead as the sector expands, broadening their revenue base and building their reputation for innovation. Ensuring that environmental concerns are not neglected is a crucial part of meeting the expectations of clients as well as regulators.”

Peer-Energy CEO Robert Bühler said: “We are excited to have AlgoTrader joining our war on carbon. Tying our PEP token to crypto transactions means customers can promote renewable energy production and increased efficiency while trading. Sustainability must be fun and convenient.”

About Algotrader
AlgoTrader is the global leader in institutional trading technology for digital assets that covers the entire trade lifecycle from pretrade risk checks to order generation, automated settlement and custody reconciliation – offering best-in-class infrastructure for financial institutions. By supporting direct market access, seamless custody and core banking integration as well as full trade lifecycle automation, the AlgoTrader platform streamlines digital assets trading. Developed by a team of trading system veterans and crypto asset experts, AlgoTrader offers integrated infrastructure solutions that meet the highest institutional needs.

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About Peer-Energy
PEP is the first and only eco-system which combines the kWh world with the CO2 emission allowance world. PEP’s pioneering distributed ledger scheme for carbon offset is driven by the peer-to-peer energy market and huge socio-economic benefits.

The company was founded by Robert Bühler, a serial entrepreneur who has been involved in renewable energy and P2P energy trading for the past decade. In 2020 it received the Piccard Solar Impulse Efficient Solution label.

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