London, 19 June - ZERO13, a GMEX Group initiative providing a digital climate fintech aggregation ecosystem, and Zumo, the B2B digital assets infrastructure, announce a collaborative solution targeted at banks and their corporate and institutional clients who are looking to account for the carbon footprint of their digital assets and any aspect of their value chain.
The integrated solution will seek to enable Zumo to leverage GMEX ZERO13’s hub connectivity to digital carbon registries, trade execution venue capability and its decentralised asset settlement network to source validated, high-quality, tokenised carbon credits. The solution will also provide customers with a flexible and transparent way to account for their carbon footprint through the procurement and custody of tokenised carbon credits, with ease of trading, clearing and settlement.
Zumo’s established position as an FCA-registered UK entity will enable GMEX ZERO13 to harness Zumo’s capabilities 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, commented, “We are delighted to be able to unite the twin pillars of tokenisation and voluntary carbon markets with Zumo. Tokenised assets will represent some 10% of global GDP by 2030, while the global market for voluntary carbon credits is also forecast to increase exponentially in the coming decade. 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. Blockchain is emerging as a ‘digital enabler’ in tackling climate change and supporting the energy transition to a more sustainable infrastructure. 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. Through the GMEX ZERO13 Hub and ZERO13 Chain (Pyctor), banks and their customers can connect seamlessly with each other and with third-party registries, exchanges, and other counterparties to issue, trade, clear and settle tokenised carbon credits.