KiudaEX Carbon Credit Exchange To Be Launched In Sri Lanka

KiudaEX Carbon Credit Exchange To Be Launched In Sri Lanka - Carbon Herald
Source: Unsplash

South Korean company Kiuda Digital Holdings, supported by international investments, will soon introduce their advanced carbon credit exchange, KiudaEX, in Sri Lanka. 

This initiative is made possible through a partnership with local tech startup Xeptagon, which focuses on the development of climate finance software. The new platform will cater primarily to the increasing demand for carbon offset credits in Asian regions such as South Korea and Japan. 

KiudaEX aims to provide a direct link between carbon offset credit providers and businesses looking to achieve carbon neutrality. 

The new system is expected to streamline the process of purchasing and trading carbon offset credits, ultimately making it easier for interested companies from the region to reduce their carbon footprint and contribute to a more sustainable future.

The project will leverage the expertise of industry leaders in blockchain technology, automated processes, and enhanced security measures to create a state-of-the-art platform that addresses common challenges in the carbon trading market. 

Utilizing the latest technologies, the new Sri Lanka carbon credit exchange is expected to provide increased transparency, reduce the risk of fraud, eliminate duplicate transactions, and minimize the need for excessive paperwork. 

Relevant: Vietnam May Earn $200M Per Year From Selling Carbon Credits

The KiudaEX carbon exchange and its Climate Finance software were both developed by local technical experts in Sri Lanka, while South Korean investors have established Kiuda Digital Holdings in Sri Lanka in order to manage the operations of the Carbon Credit Exchange. Valued in the multi-millions, the project has received direct investments and endorsements from prominent South Korean securities, financial firms, and conglomerates.

This partnership between local and international stakeholders underscores the growing global importance of addressing climate change.

In a statement, CEO Richard Yoon of Kiuda Carbon Exchange predicted that the worldwide carbon market will become a multi-billion dollar industry within a few years. Yoon believes that KiudaEX will address many of the existing challenges in the carbon markets and will be a leader once regulations mandating carbon emissions come into effect.

Read more: Taiwan Carbon Exchange Has Started Selling Its First Carbon Credits

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts