Singapore-based blockchain infrastructure provider InterOpera has announced the debut of its platform for exchanging carbon credits and renewable energy certificates. OperaX. The platform is supported by Project Genesis 2.0a joint project focused on green finance by BIS Innovation Hub Centre, the Hong Kong Monetary Authority and the United Nations Framework Convention on Climate Change, with two consortia.
InterOpera uses cutting-edge blockchain technology to digitalize carbon credits and address key industry challenges in today’s carbon markets, including double counting, issuance and offsets.
This is achieved through the unique mechanism of the blockchain architecture, which has a verifiable and auditable trace of the entire life cycle of the carbon credits, from origination to offset, incorporating an additional layer of trust into the established framework of carbon credit records.
This strategic approach realizes the effective monitoring and transfer of digitalized carbon credits between emitters, buyers and sellers and is expected to drive product innovation while ensuring compliance, transparency and credibility of carbon credit transactions.
OperaX will adopt a 0% transaction fee for buyers to bring greater transparency and fairer pricing to carbon markets, aiming to be a reputable, buyer-centric and friendly exchange in the industry.
Company will initiate a one-month open beta phase with its ecosystem partners to promote corporate sustainability while encouraging the use of carbon credits through OperaX to achieve carbon neutrality.
