JPMorgan Chase explores tokenizing carbon credits

According to Bloomberg, JPMorgan Chase is developing a new service to tokenize carbon credits and is partnering with three carbon companies for initial trials. JPMorgan Chase's blockchain division, Kinexys, is working with S&P Global Commodity Insights, EcoRegistry, and the International Carbon Registry to test a new application that will tokenize carbon credits listed in the registration systems regulated by these three companies. According to a statement released on Wednesday, the companies will explore whether blockchain technology can be applied to routine activities, such as tracking the ownership of carbon credits from issuance to cancellation. [Foresight News]