JPMorgan Chase & Co. is developing a new service to tokenize carbon credits and is partnering with a trio of carbon companies for an initial trial.
Kinexys, the US bank’s blockchain unit, is teaming up with S&P Global Commodity Insights, EcoRegistry and the International Carbon Registry to test a new application that will tokenize credits listed in registry systems overseen by the three companies, according to a statement on Wednesday. The companies will explore whether blockchain technology can be applied to regular activities such as tracking ownership of credits from issuance to retirement.
