According to a press release published on Feb. 8, blockchain carbon credit transaction network Carbonplace has secured $45 million in an investment round from its nine founder banks with a combined $9 trillion in assets under management. The banks are BBVA (BME:BBVA), BNP Paribas (OTC:BNPQY), CIBC, Itaú Unibanco, National Australia Bank (OTC:NABZY), NatWest, Standard Chartered (OTC:SCBFF), SMBC, and UBS. The London-based fintech has also announced that it will become an independent entity, led by new CEO Scott Eaton (NYSE:ETN).
As told by Carbonplace, the company will use the investment to strengthen its platform and workforce, allowing it to scale its services to a larger client base of financial institutions and seek partnerships with other carbon market players, such as registries and stock exchanges around the world. Carbonplace has been described as the "SWIFT [Society for Worldwide Interbank Financial Telecommunications] of carbon markets" that will allow participants to share carbon data in real time, ensuring a secure and traceable settlement of transactions.