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Zerocap Enables Trade of Tokenised Carbon Credits With A$DC

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Zerocap has joined forces with ANZ Bank and carbon credits platform Beta Carbon to successfully trade on its platform tokenised Australian carbon credits (BCAU) using the ANZ Bank issued A$DC stablecoin.

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The innovative transaction, undertaken for Zerocap client Victor Smorgon Group, is a ground breaker in promoting frictionless and secure digital transacting for carbon abatement instruments and climate control assets.

Zerocap CEO Ryan McCall said, “Zerocap’s mission is to bridge the worlds of traditional markets and digital assets. We’re thrilled to continue our role at the forefront in taking digital assets mainstream with this transaction.

“With Zerocap providing custody and creating a market for carbon credits with A$DC, we’re proving how efficient a digital asset ecosystem can be for trading and settlement of an asset that most people don’t even associate with crypto, at least not yet.

“Zerocap’s thesis is we’ll see the ‘tokenisation of everything,’ from carbon credits to bonds, equities, property and more. This transaction is a huge milestone in realising that vision.

“We believe that the tokenisation of assets combined with blockchain technologies that allow frictionless transacting and just as importantly immediate, irrefutable settlement and secure custody. It shows the digital transacting, and our efficient markets can play an important role in the necessary development of carbon abatement instruments and assets.”

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Zerocap sourced the BCAU from BetaCarbon, which tokenises Australian Carbon Credit Units (ACCUs) into digital tokens, with each representing 1kg of carbon captured.

This transaction is significant as it provided A$DC/BCAU liquidity, while offering both Victor Smorgon Group and Zerocap redemption rights for A$DC.

The latest A$DC transaction comes after the successful execution by ANZ and Zerocap in March of the first Australian-bank issued Australian-dollar stablecoin payment through a public permissionless blockchain transaction.

“We are delighted to work with ANZ, Victor Smorgon Group, BetaCarbon to bring our knowledge of crypto assets, coins, and the market to this initiative,” Ryan McCall said.

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[To share your insights with us, please write to sghosh@martechseries.com]

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