Arx Veritas and Blubird tokenize $32 billion worth of carbon reduction assets using blockchain technology

ChainCatcher news, according to Cointelegraph, the wealth tokenization platform Arx Veritas and infrastructure company Blubird have completed the tokenization of carbon reduction assets (ERA) worth $32 billion through blockchain technology, equivalent to preventing 394 million tons of carbon dioxide emissions, setting a record in the digital asset tokenization industry.

The tokenized assets include sealed oil wells and coal mines, achieving carbon reduction by preventing coal mining, transportation, combustion, and the emission of pollutants from abandoned oil wells. This reduction is equivalent to the carbon emissions of 395 million round-trip flights between New York and London, or 986 billion miles driven by cars. Blubird stated that institutional demand for ESG-compliant tokenized assets is strong, with negotiations underway for transactions exceeding $500 million and a major institutional purchase about to be completed. This collaboration aims to establish new financing and tracking standards for sustainable finance.