Xeptagon partners with South Korean Kiuda to develop a Carbon Credit Exchange
• Published 8:00 AM EDT, Wed April 24, 2024
Xeptagon is excited to partner with South Korean Kiuda Holdings to develop a state-of-the-art carbon credit exchange using Xeptagon’s core Climate Finance technology framework. Kiuda Holdings has also successfully completed its seed fundraising with a multi-million-dollar valuation.
The investment arm of South Korea's SK Securities has invested in Kiuda as the seed investor. SK Securities is a well-known and leading global brand based in South Korea. SK Group is the second-largest conglomerate in South Korea, after Samsung Group and is a top 100 of Fortune 500 list. Xeptagon is the exclusive core technology partner of Kiuda Carbon Exchange.
The carbon credit exchange developed by Xeptagon for Kiuda will primarily target the growing demand for carbon offset credits in South Korea, Japan, and other regions of Asia. The exchange will include a real-time spot exchange for carbon credits, auctions of carbon credits and OTC (Over the Counter) transaction support for carbon credits.
Xeptagon's Carbon Credit Exchange developed for Kiuda featured on Chosun – Economy of South Korea
The carbon exchange will initiate the next generation of carbon credit trading by seamlessly connecting global carbon suppliers and carbon credit buyers. The target buyers are conglomerates and businesses that are targeting to be carbon neutral through carbon offset credits.
Kiuda carbon exchange will be a fully automated carbon offset credit exchange with direct connectivity to well-known carbon registries. The blockchain-backed system will solve many of the current issues with carbon trading, such as lack of transparency, fraud, double spending and long manual paperwork.
Kiuda is seed funded by SK Securities
Partnering with Kiuda further strengthens the position of Xeptagon as a premier climate finance software systems provider globally. Xeptagon’s climate finance and carbon trading-related software development services are already provided to global inter-governmental organizations, governments and financial organizations in the USA, Hong Kong and the African Region. In addition, Xeptagon is in negotiation with further partners in the telecommunication, trading and plantation sectors from Japan, UAE, Singapore, Indonesia and Malaysia among others.
The launch of Kiuda Carbon Exchange was also extensively covered on media including the Chosun Economy, MK Economy, ElecTimes of South Korea, Carbon Herald, DGB Group, Daily FT, Daliy Mirror, Ada Derana, The Island and Sunday Observer.
We are excited about the development in the climate finance domain. Read more about our climate finance software and carbon credit exchange from here.
