CTX to Launch Cross-Border Trading of Tokens Backed by China's Carbon Credits

The digital asset exchange Cyberdyne Tech Exchange (CTX) announced on July 25 that it would launch cross-border trading of its proprietary Carbon Neutrality Tokens (CNTs) backed by China's carbon credits in the near future.

The exchange stressed that its CNTs would pave the way for carbon credits to be transferred worldwide. Currently, this has not been possible due to long-term disagreements among signatories to the Paris Agreement.

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CTX's carbon neutrality token contains shared carbon information including emission records and tracing, carbon offsetting, carbon capture, storage, and reuse.

"We are excited with the responses we have been getting from prospective issuers since we unveiled CTX two months ago. They saw the innovation behind our CNT and how it can involve the international community in helping pollutive industries reduce their emissions in a sustainable manner,” said Dr Bai Bo, Co-founder and Executive Chairman of CTX.

Formed in 2018, CTX is licensed and regulated by Monetary Authority of Singapore and utilizes Nasdaq's advanced trading and surveillance technologies. It is the first exchange to mandate carbon disclosure for both issuers and investors, and to build the exchange-based carbon neutrality blockchain.

Previously, the exchange has signed Memoranda of Understanding (MOU) with three Chinese entities to issue and boost the issuance of CNTs backed by carbon credits, green infrastructure and real estate projects and insurance products.