Yesterday AirCarbon Exchange (ACX) and StoneX Group agreed to work together on a U.S. carbon marketplace that will be part of the StoneX Platform. ACX provides exchanges for voluntary carbon credits and various blockchain-based tokenized carbon assets. Its backers include Mubadala and the Deutsche Börse.
One of the reasons this tie-up is so promising is that StoneX enables access to various potential clients. Nasdaq-listed StoneX (market cap: $1.95bn) provides execution and clearing services in financial markets, especially commodities. A reasonable chunk of its revenues is from corporates for commodities trading and hedging for the likes of corn, wheat, soy and energy. Many of those corporates could also potentially be buyers of carbon credits.
“We are excited to link our markets in Abu Dhabi, Singapore and Brazil to StoneX, further expanding our reach into North America and the broader StoneX platform of over 54,000 commercial, institutional, and global payments customers,” said William Pazos, Co-CEO and Co-Founder of ACX.
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