Press Release : BNZ X and EcoRegistry Announce Groundbreaking Collaboration to Enable Real-Time Carbon Credit Settlements
September 3, 2024
In a significant move towards enhancing the efficiency and transparency of the carbon market, BNZ X, a blockchain-based carbon credit marketplace based in India, and Ecoregistry, a leading platform for environmental asset management headquartered in Colombia, have announced a strategic collaboration. This partnership aims to provide real-time settlements of carbon credits traded on the BNZ X platform, setting a new standard for the industry.
The collaboration between BNZ X and Ecoregistry will leverage blockchain technology to ensure the immediate and secure settlement of carbon credits. This real-time settlement capability is poised to eliminate delays in the trading process, reduce transaction risks, and enhance trust among market participants.
Neha Jain, Co-Founder of BNZ X, highlighted the significance of this partnership:
"Our collaboration with Ecoregistry marks a pivotal moment in the carbon credit market. By integrating Ecoregistry’s robust asset management capabilities with our blockchain-based platform, we are not only streamlining the trading process but also ensuring that every transaction is transparent, secure, and settled in real-time. This is a significant step forward in our mission to build a more efficient and trustworthy carbon marketplace."
Juan David Duran Hernandez, CEO of Ecoregistry, also expressed enthusiasm for the partnership:
"Ecoregistry is excited to join forces with BNZ X in pushing the boundaries of what’s possible in carbon trading. Real-time settlements are a game-changer, providing immediate liquidity and reducing counterparty risk, which are crucial for the growth and maturity of the carbon market. Together, we are setting a new benchmark for transparency and efficiency in environmental asset management."
The geographical locations of BNZ X in India and Ecoregistry in Colombia bring additional benefits to this collaboration. India, being a rapidly growing market with a strong focus on sustainability, offers BNZ X a strategic advantage in scaling its operations and reaching a vast audience across Asia. Meanwhile, Colombia's position in Latin America, coupled with its biodiversity and environmental initiatives, makes Ecoregistry a crucial player in the region's carbon market. The synergy between these two international companies not only strengthens their global reach but also ensures that they can cater to a diverse and expansive market.
This partnership is expected to attract a broader range of participants to the BNZ X marketplace, including corporate buyers, project developers, and investors, who will benefit from the enhanced liquidity and security that real-time settlements provide. Additionally, the collaboration will support BNZ X's broader goal of expanding its ecosystem to include more verification and validation bodies, certification organizations, and carbon consultants, further solidifying its position as a leader in the global carbon market.
As the demand for carbon credits continues to rise, the partnership between BNZ X and Ecoregistry is a timely and innovative solution that addresses some of the key challenges facing the market today. By providing real-time settlements, the two organizations are paving the way for a more transparent, efficient, and reliable carbon trading system, ultimately contributing to global efforts to combat climate change.
To know more about BNZ Green: www.bnzgreen.io
To know more about Ecoregistry: https://www.ecoregistry.io/