Blockchain technology carbon credit trading Internet Carbonplace won $45 million for its nine founder financial institutions in a round of transactions, with total assets under management of $900m, according to a press release released on February 8th. Such banks are open to Italian financial institutions, BNP Paribas, the Kingdom of the United States Banking, Itahost Unibanco, National Bank of Australia, NatWest, Bank of East Asia, SMBC and Swiss Bank. The financial management company, which is headquartered in London, also announced that it will become a separate entity line, drawn by the new CEO John Skins.

According to Carbonplace, the company will use the project investment to strengthen its platform and workforce, enable it to expand its services to a wider customer base of financial institutions, and look for strategic partnerships with other carbon market participants, such as registered stock exchanges around the world. Carbonplace is described as "the SWIFT of the carbon market", which will allow participants to share carbon data information in real time, ensuring the security of transactions and traceability system settlement.

NatWest Markets CEO Johnson Burroughby quoted McKinsey as saying, "in the near future, the world's need for self-carbon credits is likely to increase 15-fold." Carbonplace is in a unique position to meet this requirement by providing scalable expertise to environmentally conscious companies, he said.

Although the service is expected to be released later this year, Carbonplace has launched trading demonstration sites with companies such as Visa and Climate Impact X. Carbonplace uses its own distributed ledger technology to promote offsetting transactions, praising the digital currency wallet as a special tool that "allows users to reliably show their rights to the market, reduce repeatedly calculated risks, and simplify reporting."