China Carbon Neutral Development Group (CCNG) has issued what it says are the world’s first verified carbon tokens, a landmark effort to blend blockchain technology with real-world climate finance and improve liquidity in carbon markets.
The offering was carried out by Global Carbon Asset Management Co., Ltd, a wholly owned subsidiary of the Hong Kong–listed CCNG (HKEX: 1372).
The unit tokenized 500 million digital “carbon coins” on DigiFT, a regulated digital asset exchange in Singapore, using 500,000 tonnes of carbon credits certified under Verra’s Verified Carbon Standard (VCS) as underlying assets.
The initiative represents the first compliant issuance of carbon credit–backed tokens based on an internationally recognized standard on a regulated overseas blockchain platform, CCNG said.
By bridging conventional carbon markets with tokenized assets, the project seeks to tackle long-standing market constraints such as limited liquidity, high transaction costs and opacity.
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The Digital Real-World Asset (RWA) tokenization model used in the transaction combines an alliance chain with a public blockchain to satisfy regulatory requirements while enabling rapid on-chain transfers and transparent ownership tracking.
Proponents argue this structural innovation could expand market access for institutional investors and improve price discovery.
Each digital token corresponds to a VCS-certified credit, meaning organizations buying or trading the carbon coins are linked to third party-verified reductions or removals of greenhouse gases.
The VCS, administered by the nonprofit Verra, is among the most widely adopted global voluntary carbon standards.
The transaction underscores growing interest in embedding blockchain and tokenization into sustainable finance, particularly in Asia, while potentially establishing a template for compliant carbon asset digitization that could resonate with international buyers seeking traceable, quality climate assets.
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