Last week, Carbonplace and Climate Impact X (CIX) announced that they are teaming up to create a pilot for a seamless blockchain-based platform for voluntary carbon credit trading.
Major institutions back both projects. CIX was founded by DBS Bank, the Singapore Exchange (SGX), Standard Chartered and Temasek to create a marketplace of projects where corporates can buy carbon credits.
If one thinks of securities trading, some institutions provide trading or marketplace platforms, while others offer post-trade and settlement. That’s where Carbonplace comes in. It was founded last year by NAB, CIBC, Itaú Unibanco and NatWest, and this year they were joined by another three banks, BNP Paribas, Stanchart and UBS. It expects to go into production towards the end of this year.
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