Kubix Digital Asset (kubix), an ICO Portal provider under KASIKORNBANK Financial Conglomerate, has entered a strategic partnership with the Thailand Greenhouse Gas Management Organization (TGO). The collaboration aims to conduct a feasibility study on integrating TGO’s carbon credit registry with digital infrastructure, laying the foundation for a seamless “Carbon Credit Token” ecosystem and supporting the upcoming Climate Change Act expected in 2027.
Enhancing the Carbon Market through Digital Integration
The core of this partnership focuses on developing API integration between kubix and TGO’s registry system to facilitate Carbon Credit Tokenization. According to Partomchai Tangnoi, Acting Managing Director of kubix, this initiative aims to transform the Thai carbon market through four primary benefits:
- Enhanced Efficiency and Reduced Transaction Risk: Utilizing Delivery-versus-Payment (DvP) ensures that carbon credit delivery and payment occur simultaneously, providing a fast, secure process and mitigating settlement risks.
- Transparency and Traceability: Transactions recorded on the blockchain prevent double counting and reduce data entry errors, instilling confidence for investors and buyers.
- Expanded Market Access: By enabling fractionalization from tons to kilograms, the system lowers investment barriers and increases market liquidity. This allows smaller enterprises to participate more easily in the carbon market.
- Opportunities for Green Finance Innovation: Paving the way for the creation of pioneering environmental investment products, providing a foundation for future-ready financial instruments that align with emerging global economic measures.
Strategic Alignment with National Climate Goals
The initiative is designed to comply with regulatory frameworks and support Thailand’s commitment to achieving Net Zero Emissions by 2050. It also serves as a preparatory step for the Climate Change Act, scheduled for implementation in 2027, by helping small-scale project developers access the market more effectively.
Nakorn Tangavirapat, Executive Director of TGO, noted that the API integration study aligns with TGO’s mission to promote the domestic voluntary carbon market. The goal is to elevate carbon credit utility and establish Thailand as a regional carbon trading hub within ASEAN, following international standards of transparency and verifiability.
This partnership combines kubix’s expertise in digital financial technology with TGO’s regulatory role in carbon registry management to drive Thailand’s transition toward a low-carbon society and a sustainable green economy.
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