Share this article
Singapore Startup Sells Carbon Neutrality Tokens Backed by Chinese Carbon Credits
China launched its carbon trading market in July.
Updated May 11, 2023, 7:01 p.m. Published Sep 27, 2021, 10:36 a.m.
Make us preferred on GoogleSingapore startup Cyberdyne Tech Exchange (CTX) sold its first tranche of carbon neutrality tokens backed by Chinese carbon credits, according to press release on Monday.
- In July, the exchange said it would sell the tokens, dubbed Carbon Neutrality Token (CNT).
- CTX sold tokens corresponding to 5,000 metric tons of carbon credits generated by a wind project in Zhangjiakou. Another 5,000 units will be released later this month, it said.
- To issue a token, companies verify their carbon credits with a third-party agency, and then “freeze” the carbon credits at China’s national carbon trading market, according to a press release in July. “Freezing” is a bureaucratic procedure by which the firm asks the market trading operator to stop selling the credits.
- Tokens contain “shared carbon information including emission records and tracing, carbon offsetting, carbon capture, storage, and reuse,” according to the July press release, which can help companies prove they are pursuing environmental goals.
- Zhangjiakou is a city in Beijing’s neighboring Hebei province that will co-host the 2022 Winter Olympics. The carbon credits come from a wind project developed by a Chinese state-owned enterprise in Zhangjiakou’s Olympics facilities, according to the CTX website.
- CTX is licensed by the Monetary Authority of Singapore. According to its website, it holds a market operator license, which is necessary for operating an exchange as well as two capital markets licenses for asset custody and dealing in capital markets products, and is exempted from Singapore’s Payment Services Act while it is waiting for its license application to be approved, along with dozens of other companies.
- China launched its carbon trading market in July. The market is predicted to be the world’s largest once it is fully operational.
Read more: BIS and Hong Kong Monetary Authority to Experiment With Tokenized Green Bonds
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
UPDATE (SEPT 27, 11:50 UTC) Changes company abbreviation to CTX from CTE.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
