Large banks invest USD 45 million in a network for trading carbon credits

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In advance of its anticipated launch later this year, a group of nine banks have invested USD 45 million in Carbonplace, the global DLT-based carbon credit transaction network they founded.

The venture is now equally owned by BBVA, BNP Paribas, CIBC, Ita Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC, and UBS. Additionally, Scott Eaton, a veteran of the FinTech industry and a former CEO of Nivaura and MarketAxess, has been appointed as Carbonplace’s first CEO.

The London-based Carbonplace, dubbed the Swift of the carbon markets, said that it aims to make it easy, transparent, and secure to transfer certified carbon credits.

Read More: Big banks invest $45m in carbon credit transaction network 

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TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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