MetaComp Pioneers Carbon-Backed Stablecoin For Transactions

MetaComp has successfully completed the first cross-border payment using its CNT carbon-backed stablecoin, according to ITBrief. The transaction involved the transfer of business funds from a client to a recipient using StableX, a specialized FX exchange infrastructure built to handle traditional FX operations for institutions via blockchain rails.

This was a first for such a settlement involving carbon credits to move institutional funds, in this case, a currency exchange between the Euro and Chinese Yuan. Carbon credits were tied to official Chinese CCER wind power credits and verified as per the Alpha Ladder Finance's patented CNT carbon framework. The group also handled the issuance of the stablecoin and is regulated under Singapore's MAS regulatory regime.

Co-President Tin Pei Ling positively reflected on the novel integration of stablecoins:

"By integrating Alpha Ladder's patented CNT framework into our regulated payments infrastructure, we are enabling institutions to move money globally with both financial efficiency and verifiable climate benefit."

The use of carbon-based stablecoins has the potential to revolutionize the way cross-border payments are made, reducing costs and increasing efficiency. The global stablecoin market is expected to reach between $1 - $2 trillion by 2025 and innovators like MetaComp are poised to capitalize on this growing trend through such innovations.

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Source(s): https://itbrief.asia/story/metacomp-completes-first-cross-border-payment-using-carbon-stablecoin