SINGAPORE, July 25, 2021 /PRNewswire/ — Cyberdyne Tech Exchange (CTX) said today that its digital exchange will soon debut cross-border trading of its proprietary Carbon Neutrality Tokens (CNTs) to be backed by the carbon credits of China, the world’s largest carbon market.
CTX has signed Memoranda of Understanding (MOU) with three Chinese entities to issue and facilitate the issuance of CNTs backed by carbon credits, green infrastructure and real estate projects and insurance products, packaged as Collective Investment Schemes under Singapore’s regulatory regime.
CNTs, patent pending, are digital representations of one ton of carbon credits. The latter are tradeable certificates that allow its holder to emit one ton of carbon dioxide or other greenhouse gases. Companies with any unneeded credits may sell them to others that need them; or they can pay for green projects elsewhere to offset their own emissions.