JPMorgan Chase enters carbon credit market by tokenizing credits using blockchain technology.

JPMorgan Chase & Co. is venturing into the carbon credit market by using blockchain technology to tokenize carbon credits. This collaboration with major carbon registries aims to make credit trading more efficient and transparent. The tokens issued on the blockchain will represent verifiable one-ton carbon dioxide offsets. The move reflects a broader trend on Wall Street where companies are exploring tokenization for real-world assets. JPMorgan believes blockchain can address market issues like double counting, lack of standardization, and greenwashing concerns. The bank’s research report explores the potential of digital assets in carbon markets, highlighting the importance of trust and demand.

Read more at Yahoo Finance: Wall Street banking giant targets carbon credit market