ACX Group and PERL.eco announce partnership to trade forward-financed carbon credits
The PERL.eco Carbon Exchange will enable investment in future carbon credits, with retail access and decentralised finance functions planned in the future.
March 30, 2023, Abu Dhabi, Singapore –
PERL.eco will launch the PERL.eco Carbon Exchange (PCX) to enable PERL.eco Future Carbon (PFCs) and other environmental products to be traded against the PERL digital assets. ACX Technologies, the technology provider of ACX Group, will deliver the exchange architecture, as well as facilitate custody and settlement for the PCX platform. In early planning and licensing stages, PCX will be a standalone regulated ecosystem.
PCX will offer a retail investment opportunity in future carbon credits currently only available to institutional investors, by providing holders of PERL the exclusive ability to purchase PFCs from high-quality projects. There is currently no mechanism to finance forest conservation at scale which is where decentralised finance can make a difference. The partnership between PERL.eco and ACX Group is focused on developing innovative financial solutions for the carbon market, including using PERLs as a catalyst for change, while ensuring that investments deliver verifiable emission reductions and benefits to local communities. The partnership aims to pilot PFCs by selling future tranches of credits from carbon projects, while complying with rigorous custody and operational controls.
ACX Group includes ACX Exchange, the first regulated carbon trading exchange globally, which is based in the Abu Dhabi Global Market (ADGM), United Arab Emirates (UAE) and licensed by ADGM’s Financial Services Regulatory Authority (FSRA).
William Pazos, Co-Founder and Co-CEO of ACX Group, said: “We are thrilled to be partnering with PERL.eco to pilot forward-financed carbon credits in this space. By embracing new and innovative financial instruments and partnerships, we can accelerate progress towards a more sustainable future. This is an exciting innovation that we hope to, in time, provide on ACX Group’s institutional exchange.”
PERL.eco will oversee the development and implementation of associated carbon projects and will also work closely with ACX Technologies to update on the progress of these projects, as well as for bringing decentralised finance traders to the carbon sector through PCX.
Kevin Iwanaga, President of PERL.eco and Perlin Global based in UAE, said: “By limiting the participation in carbon markets, predicted to grow significantly in the next twenty-five years, to a limited number of TradFi institutional investors, we are failing to ensure that sufficient resources are available today to support nature-based carbon sequestration projects.”
The PCX trading platform intends to develop broader functionalities in the future, including the ability for retail investors to trade carbon and other decentralised functionalities.
PERL.eco uses blockchain technologies to tokenise real-world ecological assets such as carbon credits, and to incentivise protection of the environment and biodiversity, including through rewards and non-fungible tokens. To learn more, visit www.perl.eco
About AirCarbon Exchange (ACX) Group:
AirCarbon Group ("ACX") includes ACX Technologies which provide technology services to ACX Exchange and Clearing House which hosts clients comprising of corporate entities, financial traders, carbon project developers and other industry stakeholders. ACX Exchange provides its participants with an efficient and transparent trading platform which is easy to use, frictionless and with the lowest transaction fees available on the market, and is intending to launch its fully regulated Exchange and Clearing House in Abi Dhabi Global Market in 2023 Its underlying distributed ledger technology will allow the carbon market to scale efficiently to meet global ambitions of Net Zero.
ACX Group was recognized as the Best Carbon Exchange globally in Environmental Finance's prestigious Voluntary Carbon Market Rankings, the largest and most closely watched survey of the world's Voluntary Carbon Market, for two consecutive years (2021, 2022). ACX Group was also named as the ‘Best Solution in Energy Trading’ by Wired UK and Publicis Sapient at their Global EnergyTech Awards, which spotlighted the companies that are ‘Winning the Race to Reinvent Energy’. For more information, please reach out to info@AirCarbon.co or visit www.aircarbon.co
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