SINGAPORE, June 19, 2023 /PRNewswire/ -- InterOpera, a leading blockchain infrastructure provider backed by Vertex Ventures, Kakao Investments, and Korea Investment Partners, announced the successful launch of its carbon credit and renewable energy certificate exchange platform, OperaX. With OperaX, InterOpera now serves as an operator for a digital exchange dedicated to carbon assets while also offering robust blockchain infrastructure for all types of assets.
The launch of OperaX comes on the back of Project Genesis 2.0, a joint project focusing on green finance by Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and United Nations Framework Convention on Climate Change (UNFCCC), in which InterOpera played a pivotal role as the official technology partner. Through this project, InterOpera integrated cutting-edge advancements in blockchain to digitalise carbon credits in a proof-of-concept that demonstrated the effective monitoring and transfer of digitalised carbon credits between issuers, buyers, and sellers. InterOpera is currently working towards commercialising this proof-of-concept with global institutional partners.
OperaX utilises blockchain technology to address key industry challenges in today's carbon markets such as double counting, issuance, and offsetting. This is achieved by the blockchain architecture having a verifiable and auditable trail of the carbon credit entire lifecycle from origin to offsetting, which will incorporate an additional trust layer to the established framework of carbon credit registries. This strategic approach allows product Innovation, while ensuring the compliance, transparency, and credibility of carbon credit transactions.
To build sustainability-focused mindshare amongst corporates and encourage further adoption on the use of carbon credits, InterOpera will begin a comprehensive one-month open beta phase with its ecosystem partners to achieve carbon neutrality through OperaX. InterOpera actively supports stakeholders from various industries with their sustainability efforts and continues its mission to enable more corporates with their sustainability success.
OperaX aims to provide an exceptional user experience and value for buyers, offering a seamless process for purchasing, trading, and securely holding digital carbon assets. To introduce more transparency and fairer pricing into the carbon markets, OperaX will feature a 0% transaction fee for buyers, to be the most buyer-centric and friendly exchange in the industry.
The launch of OperaX comes on the back of Singapore's ambition to become a leading carbon services and trading hub and InterOpera aims to leverage this growing momentum in the carbon market to establish itself as an prominent and innovative technology company.
As InterOpera sets new benchmarks in the industry, it continues to redefine the landscape of carbon credit trading, fostering sustainability, and empowering stakeholders to make a positive impact on the environment.