Companies news
InfraBlocks set to streamline the issuance and trading of carbon credits in Singapore
InfraBlocks was awarded the Monetary Authority of Singapore’s (MAS) Financial Sector Technology and Innovation (FSTI) proof-of-concept (POC) grant.
IBT is proud to offer our support to all stakeholders in Singapore who are as keen as ourselves in the pursuit of a low-carbon economy”— Cedric Joutet, IBT CEO & Co-FounderSINGAPORE, April 21, 2022 /EINPresswire.com/ -- InfraBlocks (IBT), the technology company dedicated to supporting enterprises towards a Net Zero future, launches its innovative digital carbon credit token platform in Singapore to further support international efforts at combatting the effects of climate change.
"IBT is proud to offer our support to all stakeholders in Singapore who are as keen as ourselves in the pursuit of a low-carbon economy”
— Cedric Joutet, IBT CEO & Co-Founder
Powered by blockchain technology, IBT’s digital platform allows enterprises to effectively issue, verify, audit, and mint voluntary carbon offset tokens. The platform allows for sustainable project owners to issue carbon credits, which are then verified and registered. Corresponding tokens are issued against voluntary carbon credits, and traded by enterprises, allowing them to fulfill their respective ESG ambitions.
IBT was awarded the Monetary Authority of Singapore’s (MAS) Financial Sector Technology and Innovation (FSTI) proof-of-concept (POC) grant. The FSTI POC grant provides funding support for experimentation, development, and dissemination of nascent innovative technologies in the financial services sector.
“IBT is proud to offer our support to all stakeholders in Singapore who are as keen as ourselves in the pursuit of a low carbon economy” said Cedric Joutet, Co-Founder & CEO, IBT. “By allowing for full transactional transparency and verifiable quality of the carbon credits, we shall make available to sustainable project owners increased access to funding from an expanded pool of investors.”
“This allows for even more sustainable projects to have the opportunity to come online and accelerate the global journey to a Net Zero future”, said Shubhomoy Ray, Co-Founder & Director, IBT.
Developed by IBT’s team of climate finance experts, this initiative is designed to resolve current challenges faced in carbon markets, namely, the opaque and often inefficient transactions, and the quality of carbon credits. IBT shall launch the carbon credit issuance, verification, and minting platform in Singapore.
