GX Labs And Chintai Nexus To Launch Biochar Carbon Credits Backed By Puro.earth Standard

GX Labs And Chintai Nexus To Launch Biochar Carbon Credits Backed By Puro.earth Standard - Carbon Herald

Chintai Nexus, a compliant Real World Asset (RWA) platform powered by the Chintai Exchange token (CHEX) , announces the first of several carbon credits projects to be launched in 2024 by GX Labs.

GX Labs white labeled Chintai Nexus to issue a BioChar carbon token, which is backed by Nasdaq’s leading industry standard Puro.earth.

Microsoft and other forward thinking global corporations have made large investments into carbon credits that use the Puro.earth standard, giving the GX Labs BioChar token credibility as elite globally recognized carbon removal credit.

David Packham, Chintai CEO said, “Working with companies like GX Labs is why we created Chintai Nexus. Enabling small companies to create transparency and traceability in Carbon Credit markets is not a nice to have, it’s an essential part of legitimizing this asset class.”

“As we accelerate towards 2030, major governments will impose strict carbon emissions laws. Net carbon emitters, including the largest corporations globally, will have to buy carbon credits like the GX Labs BioChar token to offset their emissions. With GX Labs, we’re raising the standard and enabling integrity in carbon credit markets.”

This unique opportunity allows users registered on the Nexus Platform to buy BioChar carbon credits at USD 50.

The cost reduction is a direct result of the Chintai Nexus on-chain infrastructure that allows GX Labs to go direct and eliminate intermediaries in origination and distribution channels.

The pilot issuance is $3M USD and enables the completion of sequestration of carbon that will back each BioChar token on the Chintai Nexus platform.

Relevant: Planboo Raised Over $1.1M To Scale Biochar Via MRV Technology

Leon Potthoff, President of GX Labs said, “We’re thrilled to bring this opportunity to investors through the Chintai Nexus platform. By using their compliant blockchain infrastructure we guarantee that each carbon token is backed by carbon and cannot be corrupted by greenwashing. This is the first of several projects we plan to launch on Chintai this year.”

The Chintai Nexus platform is powered by the CHEX token. Every issuer who uses the platform leases CPU automatically from CHEX token holders who stake their resources to the network CPU resource pool.

This innovation enables a fully on-chain high performance solution for RWAs, including primary, secondary, self custody and on-chain compliance controls.

Read more: Exclusive: The 2023 Global Biochar Market Report Projects $3.3B Market Revenue By 2025

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