GMEX ZERO13 and Zumo launch carbon footprint solution for digital assets

Rick Steves

“Tokenized 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.”

ESG offerings

GMEX Group’s digital climate fintech aggregation ecosystem initiative ZERO13 has partnered with B2B digital asset infrastructure Zumo to launch a digital asset carbon footprint solution.

Catering to 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 leverages GMEX ZERO13’s hub connectivity to digital carbon registries, trade execution venue capability, and its decentralized asset settlement network.

The solution sources validated high-quality, tokenized carbon credits and helps customers account for their carbon footprint through the procurement and custody of tokenized carbon credits, with ease of trading, clearing, and settlement.

Tokenised assets will represent some 10% of global GDP by 2030

Hirander Misra, CEO of GMEX Group and ZERO13, commented: “We are delighted to be able to unite the twin pillars of tokenization and voluntary carbon markets with Zumo. Tokenized 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 organizations to effectively trade, clear and settle their carbon credit purchases in a manner publicly verifiable by stakeholders.”

Nick Jones, CEO of Zumo, commented: “This collaboration supports our ambition to be the one-stop shop for tokenized 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. Tokenizing carbon credits and being able to accurately measure carbon footprint is a great example of the regenerative finance (ReFi) movement.”

Zumo is an FCA-registered UK entity that enables GMEX ZERO13 to harness Zumo’s capabilities to onboard new banks, corporates, and other institutions to its trading platform. Zumo’s customers will be able 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.

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 tokenized carbon credits, as they execute their ESG Strategies with the help of blockchain technology.

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