On Monday, MetaVerse Green Exchange (MVGX), a digital/crypto token exchange previously known as Cyberdyne Tech Exchange and regulated by the Monetary Authority of Singapore, announced a major carbon token trading partnership with Shanghai’s Greenland Financial Technology Group, part of Greenland Group, a global Fortune 500 company and major Chinese state-backed enterprise focused on real estate, infrastructure and finance.
The companies say they will leverage blockchain-powered innovation and combine financial service capabilities from their respective licensed digital green exchange and licensed digital bank to meet increasing client demand for accessible crypto assets and digital carbon credits that combine with secure cross-border trading capabilities on regulated and licensed platforms.
The Singapore-China collaboration through MVGX and Greenland Financial Technology’s controlled subsidiary, Guizhou Green Finance and Emissions Exchange (GGFEX), also marks a first step toward what MVGX describes as its mission to build “a connected international network of carbon trading exchanges using its proprietary Carbon Neutrality Tokens (CNTTM) designed for cross-border carbon credit trading.”
The companies say they will jointly promote tokenization, or digital securitization, of green infrastructure assets and green buildings, creating channels for international capital to finance green infrastructure projects in China and other developing countries aimed at achieving carbon neutrality.
Asset tokenization involves creating digital tokens that are issued on a blockchain, serving as a non-fungible digital representation of either digital or physical assets in the metaverse. In addition to providing immutable ownership verification, blockchain can also power a more efficient real-time trading experience, enabled by faster settlement times.
“The growth of emerging technologies such as blockchain have brought about new applications that are radically transforming how easily investors can access new asset classes including both crypto assets and digital carbon credits, all the while ensuring greater standards of security, transparency, and traceability as they trade,” said Dr. Geng Jing, Director and Executive President of Greenland Group, Chairman and President of Greenland Financial Technology Group and Chairman of Greenland Digital Technology Co. Ltd., said: This cooperation with MVGX allows us to safely explore and experiment with the potential of asset tokenization and cross-border digital carbon trading as we continue to raise the bar for financial innovation as an organization as well as facilitating the formation of a global interconnected carbon trading network.”
MVGX will also be working with GGFEX, as the preferred partner to assist GGFEX to establish advanced digital carbon trading platform and registry arising from carbon assets in China — namely China Certified Emission Reduction (CCER) projects in the real estate and green infrastructure industries.
“This strategic collaboration with Greenland Financial Technology and GGFEX, by extension, marks a pivotal first step in our aspirations of creating an interconnected web of carbon exchanges,” said Dr. Bo Bai, Executive Chairman and Co-Founder of MVGX, in a statement on the partnership. “As we continue to strengthen our network with other international entities who share our vision of increasing the accessibility of green investment opportunities, we’re laying down the very foundation on which businesses across developing economies will soon be able to easily meet their sustainability commitments. From mature economies to emerging markets, we’re building a network that’s set to redefine how the cross-border trading of carbon credits can take place in a seamless, traceable way.”
Last month, roughly concurrent with its corporate rebrand, MVGX announced the expansion of use cases for its proprietary Non-Fungible Digital Twin (NFDT) technology to include the creation of bankable digital twins of sustainable smart buildings, EV batteries and solar panels, as well as the next generation carbon registry.
