MetaVerse Green Exchange (MVGX), a digital green exchange that is licensed and regulated by the Monetary Authority of Singapore (MAS), has announced today that they will be working together in the near future with Chainlink, the industry-standard Web3 services platform. The technology alliance is going to help develop better interconnection among sustainability stakeholders in both the Web2 and Web3 worlds. This will come at a time when there are rising demands for greater accountability and data-driven verification standards in the field of carbon reporting.
With cooperation from Chainlink in the shape of Cross-Chain Interoperability Protocol (CCIP), Proof of Reserve (PoR), and dynamic NFTs, the technology partnership will provide a pathway for future integrations, which will assist MVGX in developing a next-level Web3 sustainability ecosystem. This will be done in a way that is both secure and transparent, and will also interconnect the Web3 sustainability community with real-world carbon systems in a manner that is compliant.
Empowering Users With More Integrity In Web2 & Web3 Worlds
MVGX provides a comprehensive portfolio of blockchain-based Carbon-as-a-Service products, which are underpinned by its registered digital exchange and patent-pending technologies. These technologies include MVGX’s Non-Fungible Digital Twin (NFDT®) and Carbon Neutrality Token (CNT®), which is MVGX’s own digital carbon credit.
One of the most difficult components of the Paris Agreement (COP21) is the capacity to adequately verify and monitor carbon credits for cross-border trading. CNT®s solve this problem, thereby introducing greater integrity into VCMs while also facilitating carbon neutrality at scale and making it easier to achieve the global objective of net-zero emissions.
To this day, MVGX has announced substantial agreements with companies such as the Oversea-Chinese Banking Corporation (OCBC Bank), in order to co-create green financing solutions. In November of this year, the MVGX decided to extend its carbon trading capabilities by entering into experimental cooperation with Indonesia Stock Exchange, the national exchange of Indonesia.
Dr. Bo Bai, Executive Chairman and Co-Founder at MVGX, said, “Governments and businesses across the globe recognize the devastating impact of climate change, but existing solutions lack the much-needed transparency to ensure stakeholders that their climate initiatives are having the intended impact on the ground. We are thrilled to be embarking on this partnership with Chainlink as we recognize the vital role it will play in enabling us to empower our customers and clients with greater integrity, veracity, and accountability in the green finance and broader ESG ecosystem, in both Web2 and Web3 worlds.”
The Industry Standard Web3 Services Platform
Accuweather provides weather data through Chainlink, companies like Arbol and Hyphen utilize the network’s technology, and Chainlink plays a role in the Lemonade Foundation’s Crypto Climate Coalition. All of these factors have contributed to the continuous rise in popularity of Chainlink’s technology among businesses that are focused on promoting sustainability.
The revelation that Chainlink has partnered with MVGX paves the opportunity for the company to significantly increase its capacity to positively impact the sustainability space. Chainlink is the best choice for the Web3 services platform. It integrates Web3 applications into real-world data and off-chain computing, and it works across any blockchain.
In addition to enabling feature-rich Web3 apps and hybrid smart contracts, Chainlink provides global businesses and data suppliers with a common entrance to all blockchains. Chainlink is the premier decentralized oracle network that protects tens of billions of dollars in the DeFi, insurance, gaming, and NFTs businesses, among others.
Niki Ariyasinghe, Global Head of Partnerships at Chainlink Labs, said, “MVGX has a lot of potential. The company has spent the last few years building a strong foundation for growth, and I believe that this is a long-term collaboration with a lot of potentially productive components. I’m looking forward to our work together.”
The First Regulated Exchange For The Metaverse Era
MVGX is the first regulated exchange for the Metaverse era, holding licenses from the MAS including the Recognized Market Operator (RMO) license, Capital Market Service License for dealings in securities, collective investment schemes, exchange-traded derivatives, over-the-counter derivatives, and providing custodial services, as well as exempted licenses under the Payment Services Act.
MVGX is dedicated to bridging carbon trading markets that are located in different countries and bridging illiquid assets that are located in the real economy with wider investor transparency. MVGX is a digital asset exchange platform that was established in 2018 and has its headquarters in Singapore. This platform features the best-in-class Nasdaq engines, an MVGX proprietary digital asset ledger with a carbon footprint tag, and stringent compliance procedures.
Non-Fungible Digital Twin (NFDT®) and CNT®, MVGX’s patented digital carbon credit, are two patent-pending technologies that allow for the cross-border exchange of carbon voluntary emission reduction credits without posing any problems with regard to national ownership (Nationally Determined Contributions).
