The Carbon Opportunities Fund and Sumitomo Corporation of Americas (SCOA) have conducted one of the first transactions of tokenized carbon credits using the Climate Action Data Trust (CAD Trust) built on the Chia blockchain. SCOA purchased the initial batch of carbon credits tokenized on the Chia blockchain, showcasing the successful implementation of the Fund's concept. The CAD Trust, part of the World Bank's Climate Warehouse initiative, aims to establish a comprehensive digital carbon market infrastructure for enhanced transparency and credit quality. This transaction highlights the potential of technology and tokenization in improving efficiency, transparency, and trust in voluntary carbon markets.

Source: Businesswire.com