ZERO13 and Zumo partner on new carbon credit offering for banks

By Gloria Methri

ZERO13, a GMEX Group initiative, and Zumo, the B2B digital assets infrastructure, have announced a collaborative solution targeted at banks and their corporate and institutional clients who are looking to track the carbon footprint of their digital assets and any aspect of their value chain.

The integrated solution will enable Zumo to leverage GMEX ZERO13’s hub connectivity to digital carbon registries, trade execution venue capability, and its decentralised asset settlement network. It will also provide customers with a flexible and transparent way to account for their carbon footprint through the procurement of tokenised carbon credits, with ease of trading, clearing, and settlement.

Zumo’s position as an FCA-registered UK entity will enable GMEX ZERO13 to onboard new banks, corporates, and other institutions to its trading platform. This will support clients in their efforts to execute ESG Strategies with the help of blockchain technology.

Hirander Misra, CEO of GMEX Group and ZERO13, said, “We are delighted to be able to unite the twin pillars of tokenisation and voluntary carbon markets with Zumo. By leveraging the integrated tools from Zumo and distribution capabilities available through the ZERO13 platform, we can together deliver a transparent and trusted way for organisations to effectively trade, clear, and settle their carbon credit purchases in a manner publicly verifiable by stakeholders.”

Nick Jones, CEO of Zumo added, “This collaboration supports our ambition to be the one-stop shop for tokenised ESG assets and follows the recent launch of Oxygen, our B2B solution that quantifies electricity-based Scope 3 emissions associated with digital asset holdings with blockchain-verified Renewable Energy Certificates. Tokenising carbon credits and being able to accurately measure carbon footprint is a great example of the regenerative finance (ReFi) movement.”

Key to the collaboration will be enabling Zumo’s customers to operate their own and/or access trading platforms and associated liquidity pools for high-quality carbon credit assets and other instruments and to provide end-to-end efficiency through the transaction lifecycle from onboarding (KYC/AML) to settlement.