Blockchain Carbon Network Carbonplace Secures $45 Million In Funding

Key Points:

• In a strategic round of funding, carbon credit transaction network Carbonplace raised $45 million and established its own company.
• To build its platform, increase its workforce, and offer services to more banks and carbon market players, such as registries and markets, Carbonplace will need financial investment.

With a total of $9 trillion in assets under management, the nine founding banks of the blockchain carbon credit transaction network Carbonplace have invested $45 million in the company.

The banks include BBVA, BNP Paribas, CIBC, Ita Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC, and UBS, according to a news statement released on February 8. The London-based fintech business has also said that Scott Eaton, its new CEO, will lead it as an independent organization.

The cash infusion signifies a commitment from some of the biggest financial institutions in the world to further Carbonplace’s mission of fostering open, safe, and accessible carbon markets in order to accelerate corporate climate action.

The company CEO Scott Eaton said in the statement:

“With Carbonplace, we are transforming the way that carbon credits are bought, distributed, held and retired. I am excited to take this company to the next level of its evolution, and to help unlock its massive potential to drive significant economic and social value by opening the carbon markets up to the world.”

In order to extend its services to a bigger customer base of financial institutions and pursue relationships with other carbon market actors, such as registries and stock exchanges globally, the business will utilize the funding to enhance its platform and employees.

The “SWIFT (Society for Worldwide Interbank Financial Telecommunications) of carbon markets” has been referred to as Carbonplace, which will enable participants to exchange carbon data in real time and provide a safe and verifiable settlement of transactions.

With a wide range of buyers, sellers, registries, and exchanges, including the global payments technology corporation Visa and the Singapore-based marketplace Climate Impact X, the company has already launched trades.

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Harold

Coincu News