CMC News

#JPMorgan Tests Carbon Credit Tokenization With Major Partners

JPMorgan's blockchain division Kinexys has launched testing for its carbon credit #tokenization platform with three industry leaders.

S&P Global Commodity Insights, EcoRegistry, and International Carbon Registry are collaborating on the pilot program.

The initiative aims to create a unified ecosystem for tokenized carbon credits, addressing market fragmentation and transparency issues.

Carbon credits represent tradable permits allowing companies to emit specific amounts of greenhouse gases through verified reduction projects.

EcoRegistry and ICR have completed initial testing phases, while S&P Global will test the application on its registry-as-a-service platform.

The testing focuses on account management, project lifecycle tracking, and credit management functionality.

Alastair Northway from J.P. Morgan Payments highlighted tokenization's potential for creating globally interoperable systems.

JPMorgan is separately working on launching deposit token JPMD on the Base network, marking its first public #blockchain deployment.