Global Carbon Asset Management Co., Limited, a wholly owned subsidiary of China Carbon Neutral Development Group Limited (1372.HK), successfully issued 500 million tokens backed by carbon credits certified under the Verified Carbon Standard (VCS). The tokens were issued on DigiFT, a regulated digital asset exchange in Singapore.
This transaction represents the world’s first compliant carbon coin issuance based on internationally recognized carbon standards.It also marks the first on-chain issuance of tokens backed by VCS carbon credits on a regulated digital asset trading platform, pioneering a new, compliant channel for eligible investors to allocate carbon assets. This landmark transaction stands as a major milestone in the development of the Asian digital asset market.
The issuance is backed by 500,000 tonnes of carbon credits certified under the VCS by Verra, a globally recognized climate action and environmental standards-setting organization. Through the regulated digital asset exchange, the tokens facilitate seamless, compliant entry for eligible and institutional investors, significantly enhancing liquidity and price discovery efficiency for carbon assets. This transaction marks an important step in the financialization of carbon assets, set to catalyze standardization in carbon asset trading and drive innovation in green financing models.
China Carbon Neutral Development Group Limited is a company listed on the Main Board of the Hong Kong Stock Exchange. It is Asia’s first publicly listed company dedicated exclusively to carbon neutrality-related businesses. The group operates three core strategic business segments: green digital solutions, renewable energy, and ecological governance.
DigiFT is a digital asset platform focused on institutional-grade, real-world assets (RWA). Its Singapore operations are regulated by the Monetary Authority of Singapore (MAS), and its Hong Kong operations is regulated by the Securities and Futures Commission (SFC). Purpose-built for institutional RWA issuance and trading, DigiFT is trusted by global financial institutions and serves as an on-chain tokenization and distribution partner for leading issuers and asset managers.
Fangda acted as legal counsel on this transaction, providing comprehensive legal services covering transaction structuring, drafting and negotiating transaction documents, and coordinating signing and closing. Leveraging its deep expertise in digital assets and cross-border transactions, Fangda delivered integrated, high-quality legal support to assist the client in capturing opportunities arising from the digital economy. The Fangda team advising on the transaction was led by partners Annie SHEN and Yingying WANG.