Japanese Financial Giant Nomura and Blockchain Climate Startup Allinfra Announce Strategic Partnership
A Japan-based financial holding company, Nomura has participated in a $6 million Series A funding round of Allinfra. This Hong Kong startup is using blockchain technology to battle climate change.
Allinfra Raises $6 Million in Series A Funding Round
Allinfra is a blockchain company that focuses on climate solutions and leverages blockchain technology to track emissions, renewable energy certificates, and green bonds. The company also tokenizes infrastructure such as solar panels or trains to reduce the cost of funding.
Notably, Allinfra has been involved in several high-profile use cases. For instance, the company is exploring Project Genesis, a project being explored by the BIS Innovation Hub and the Hong Kong Monetary Authority to understand the feasibility of tokenizing green bonds.
The report reads in part:
“In late 2020, KPMG announced its blockchain Climate Account Infrastructure to enable its clients to measure and manage greenhouse gas emissions. One of the project partners is Allinfra. The startup also worked with Hong Kong-based Link REIT to tokenize solar panels installed on its real estate. And the Monetary Authority of Singapore’s Project Ubin Phase 5 involved numerous use cases, including one where Allinfra tokenized infrastructure using smart contracts.”
It is also worth noting that Allinfra’s experience on the Project Genesis green bond initiative will help it work with Nomura on a similar project. In addition, Allinfra has a security token issuance platform dubbed BOOSTRY, and it recently allied with Tokyo Stock Exchange operator JPX on a green bond project.
Nomura Getting Increasingly Active in Blockchain Space
A Japanese financial holding firm is warming up to the emerging technologies space, which reflects in the company’s recent moves in that area.
As previously reported by cryptonews, Japanese financial services corporation Nomura announced the launch of BOOSTRY, a blockchain-powered platform that facilitates the exchange of securities. The platform automates issuing bonds by using smart contracts that allow for better security and mitigate potential margin of errors.
It is worth noting that besides blockchain technology, Nomura is also warming up to digital assets and continues to introduce new services catering to the rising demand for the emerging asset class.
Most recently, cryptonews reported that Nomura Securities would be offering OTC bitcoin derivatives to its customers.
Rig Karkhanis, Nomura’s head of marketing, said that the firm executed its first trade on CME via Cumberland DRW:
“Working with institutional-grade counterparties will allow us to scale into the increasing demand from our clients.”
The timing of Nomura’s entry into the digital assets space is especially interesting as the wider market continues to be battered on the heels of the US Federal Reserve’s decision to hike interest rates and introduce quantitative tightening.
As of this writing, bitcoin trades slightly above $29,000 and has a market cap of over $555 billion, while ether trades at $1,840 and has a market cap of just over $223 billion, according to CoinGecko.
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