Singapore and China fintechs partner on carbon credit crypto platform

CO2 cloudsChina’s Greenland Financial Technology (GFT) has partnered with Singapore’s MetaVerse Green (MVGX) Exchange to develop a cross-border crypto assets business for carbon credits. The alliance between GFT, a fintech subsidiary of state-owned infrastructure firm Greenland Group, and MVGX, a crypto exchange licensed by the Monetary Authority of Singapore, is designed to meet the growing demand among investors to trade carbon credits on a regulated digital platform. According to MVGX the collaboration is a “critical first step” in its bid to build a network of carbon exchanges using its proprietary carbon neutral tokens. “The growth of emerging technologies such as blockchain have brought about new applications that are radically transforming how easily investors can access new asset classes including both crypto assets and digital carbon credits,” said Geng Jing, the director and executive president of Greenland Group, and chairman and president of Greenland Financial Technology Group. “This cooperation with MVGX allows us to safely explore and experiment with the potential of asset tokenization and cross-border digital carbon trading.” © 2022 funds global asia

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