GMEX, Zumo Team Up for Carbon Credit Offering
ZERO13, an initiative by GMEX Group revolutionising the digital climate fintech aggregation ecosystem, and Zumo, a B2B digital assets infrastructure, have unveiled an innovative collaborative solution targeting banks and their corporate clients.
This solution addresses the need to account for the carbon footprint of digital assets and various aspects of the value chain.
By leveraging GMEX ZERO13's hub connectivity to digital carbon registries, trade execution capabilities, and a decentralised asset settlement network, Zumo aims to source tokenised carbon credits of exceptional quality.
The integrated solution offers customers a transparent and flexible approach to carbon footprint accounting through the procurement and custody of tokenised carbon credits, accompanied by streamlined trading, clearing, and settlement processes.
Benefiting from Zumo's status as an FCA-registered UK entity, GMEX ZERO13 will be able to onboard new banks, corporates, and institutions onto its trading platform. This collaboration supports clients in executing their ESG strategies with the assistance of blockchain technology.
Hirander Misra, CEO of GMEX Group and ZERO13, expressed his enthusiasm about the partnership, stating, "Together with Zumo, we can deliver a transparent and trusted way for organisations to effectively trade, clear, and settle their carbon credit purchases in a manner publicly verifiable by stakeholders."
He also highlighted the significant potential of tokenised assets and the projected exponential growth of the global voluntary carbon credits market.
Nick Jones, CEO of Zumo, emphasised the alignment of this collaboration with their vision of becoming a comprehensive platform for tokenised ESG assets. He acknowledged the pivotal role of blockchain technology in addressing climate change and supporting the transition to sustainable infrastructure.
The collaboration's key focus lies in enabling Zumo's customers to operate their own trading platforms, access liquidity pools for high-quality carbon credit assets and other instruments, and ensure end-to-end efficiency throughout the transaction lifecycle.
GMEX ZERO13's Hub and ZERO13 Chain (Pyctor) facilitate seamless connections between banks, customers, third-party registries, exchanges, and counterparties, enabling the issuance, trading, clearing, and settlement of tokenised carbon credits.
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Source: GMEX Group