TechFlow, July 2 — According to Bloomberg, JPMorgan is developing a new service to tokenize carbon credits and has partnered with three carbon companies for an initial pilot.
JPMorgan’s blockchain division, Kinexys, is collaborating with S&P Global Commodity Insights, EcoRegistry, and the International Carbon Registry to test a new application that will tokenize carbon credits listed in the registries managed by these three firms. According to a statement released Wednesday, the companies will explore whether blockchain technology can be applied to routine activities such as tracking ownership of carbon credits from issuance to retirement.
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