(Bloomberg) -- Singapore-based AirCarbon Pte launched the world’s first blockchain-based carbon trading exchange, which will allow airlines and other corporate buyers to buy and sell tokens backed by carbon offset credits approved by the International Civil Aviation Organization.
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The company is applying to the Monetary Authority of Singapore for a recognized market operator license and targets for the exchange to be fully operational in 2020, it said in a statement Wednesday.
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The AirCarbon Exchange will finance the registration costs of some carbon-mitigation projects at no charge to developers to help generate credits to trade.
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