back Back

ZERO13 and Zumo partner on new carbon credit offering for banks

By Gloria Methri

June 19, 2023

  • Blockchain
  • Carbon Credit
  • carbon footprint
Share

Zumo, Digital Assets, Sustainability, ZERO13, FinTech, ESG, Carbon Footprint, Trading, Settlement, Clearing, UK, Blockchain, GMEX ZERO13, a GMEX Group initiative, and Zumo, the B2B digital assets infrastructure, have announced a collaborative solution targeted at banks and their corporate and institutional clients who are looking to track the carbon footprint of their digital assets and any aspect of their value chain.

The integrated solution will enable Zumo to leverage GMEX ZERO13’s hub connectivity to digital carbon registries, trade execution venue capability, and its decentralised asset settlement network. It will also provide customers with a flexible and transparent way to account for their carbon footprint through the procurement of tokenised carbon credits, with ease of trading, clearing, and settlement.

Zumo’s position as an FCA-registered UK entity will enable GMEX ZERO13 to onboard new banks, corporates, and other institutions to its trading platform. This will support clients in their efforts to execute ESG Strategies with the help of blockchain technology.

Hirander Misra, CEO of GMEX Group and ZERO13, said, “We are delighted to be able to unite the twin pillars of tokenisation and voluntary carbon markets with Zumo. By leveraging the integrated tools from Zumo and distribution capabilities available through the ZERO13 platform, we can together 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.”

Nick Jones, CEO of Zumo added, “This collaboration supports our ambition to be the one-stop shop for tokenised ESG assets and follows the recent launch of Oxygen, our B2B solution that quantifies electricity-based Scope 3 emissions associated with digital asset holdings with blockchain-verified Renewable Energy Certificates. Tokenising carbon credits and being able to accurately measure carbon footprint is a great example of the regenerative finance (ReFi) movement.”

Key to the collaboration will be enabling Zumo’s customers to operate their own and/or access trading platforms and associated liquidity pools for high-quality carbon credit assets and other instruments and to provide end-to-end efficiency through the transaction lifecycle from onboarding (KYC/AML) to settlement.

Previous Article

June 19, 2023

Aryza announces lending partnership with EBP Money

Read More
Next Article

June 19, 2023

ClearScore launches in New Zealand

Read More






IBSi Daily News Analysis

Data privacy

July 16, 2024

Blockchain

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 15, 2024

Wirex & Visa expand partnership to fuel Web3 payment adoption

Read More

July 12, 2024

Nuvei and Mastercard team to enable crypto to fiat conversion

Read More

May 08, 2024

Revolut debuts crypto trading platform for professional traders

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024