Today the World Bank’s International Financial Corporation (IFC) announced it is part of a group launching the Carbon Opportunities Fund that aims to tokenize high-quality carbon credits using the Chia public blockchain.
The Fund also includes two other non-profit fintechs, Aspiration, which has a large retail customer base for savings and investment. Cultivo uses proprietary technology to source land for regeneration projects. These two firms will drive the fund’s strategy.
“This new partnership will foster the standardization of carbon credits generated in emerging markets and help mitigate climate change,” said Paulo de Bolle, Global Director, Financial Institutions Group, IFC.
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