Singapore blockchain-based carbon credits exchange Metaverse Green Exchange (MVGX) will partner crypto data provider Chainlink to explore tokenized carbon trading.
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The partnership will introduce cross-chain interoperability into the company’s carbon trading network, according to a press release shared with Forkast, and comes after MVGX’s collaboration with the Indonesia Stock Exchange.
MVGX is a token exchange offering carbon credit trandes. The company’s products include a carbon credit token called the Carbon Neutrality Token (CNT), which circulates on Ethereum.
MVGX will provide blockchain technology to Indonesian exchanges to ensure the integrity of carbon credits.
Indonesia in October announced aggressive emissions reduction targets that were stricter than the Paris climate accord, according to a Reuters report.
Chainlink is an oracle protocol that provides information to closed blockchain systems. In September, it announced a partnership with SWIFT, a global payment messaging platform, to provide the latter with cross-chain token transfer capabilities.
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