TYMLEZ Partners with XBourse for a New Climate Marketplace
Key points
· TYMLEZ and XBourse announce global carbon credit marketplace
· Investors will be able to verify carbon credit accuracy pre-trade using digital records
· XBourse founder and CEO, Tony Mackay, says there is a massive opportunity in climate markets for innovative and credible trading instruments that help solve climate issues
· TYMLEZ CEO Maciek Kiernikowski says the system will provide total trust and transparency to investors seeking high-quality and verified carbon credits
TYMLEZ Group Limited (“TYMLEZ”) today announced it has signed a memorandum of understanding (“MoU”) with XB Market Ventures (“XBourse”) for the development of a global carbon credits trading marketplace.
The TYMLEZ platform for verifying carbon emissions will be integrated with the XBourse marketplace to provide a regulated environment for carbon credit trading.
“TYMLEZ is looking forward to working with the XBourse team with the objective of creating one of the world’s first regulated carbon marketplaces, providing total trust and transparency to investors seeking high-quality and verified carbon credits,”
said TYMLEZ Chief Executive Officer Maciek Kiernikowski.
XBourse founder and Chief Executive Officer, Tony Mackay, said:
“There is a massive opportunity in climate markets for innovative and credible trading instruments that materially help solve climate issues. XBourse and TYMLEZ believe the first and fundamental step is providing instruments and investment vehicles that can be traced, verified and accountable for carbon abatement.”
The initial marketplace will be established in Bermuda and will apply to enter the Bermuda Monetary Authority’s (BMA) sandbox environment for Digital Asset Businesses.
“Today, markets and mechanisms for carbon abatement are disjointed, inefficient, and, most critically, lack the appropriate verification and standardization that ensures the instruments being traded deliver carbon abatement,” said Mr Kiernikowski. TYMLEZ uses blockchain technology to create an immutable record of the life-cycle of a carbon credit, including digital verification and certification, enabling trust and transparency.
Under the MOU, TYMLEZ will enable XBourse Marketplace participants to have pre-trade verification of the carbon credit provenance via the immutable digital record of the credit certification process and the examination of the underlying credit characteristics. This process is currently fragmented and essentially paper and legacy technology bound. Digitizing the process will remove significant frictional barriers to adoption and increase transparency.
XBourse partnered with Exberry’s Nebula to provide an end-to-end exchange infrastructure solution with primary issuance, secondary trading and post-trade settlement. Unlike traditional markets where instruments are homogeneous and fungible, each carbon credit is unique with limited fungibility. This requires a modern, cloud-based trading system that can simultaneously aggregate liquidity, enabling the provenance to be maintained throughout the trading process.
Using the TYMLEZ digital verification solution and the Exberry digital trading processes will accelerate investor participation in nascent nature-based solution marketplaces. Globally, business consultancy, McKinsey, estimates that over US$100 trillion will need to be spent to achieve 2050 net zero. By comparison, the market capitalization of global markets that report to the World Federation of Exchanges is currently around US$100 trillion. Therefore, the market opportunity for regulated, exchange-traded nature-based and decarbonization solutions is significant.
“The TYMLEZ Platform was designed to be industry and project agnostic, making it a perfect fit for XBourse as they look for a solution to verify carbon credits across a range of projects,” said Mr Kiernikowski. “XBourse are delivering a market of high integrity. Through adopting the TYMLEZ Platform, XBourse will enable their customers to verify that the carbon offsets they’re purchasing are of the highest investment quality.”
George Thomas, XBourse Bermuda COO, said, “Bermuda’s Government, private sector and regulator are committed to establishing Bermuda as a leader in the efficient and effective allocation of financial capital, mitigating climate risk, and continued innovation and solutions to address climate change. Over the past five decades, Bermuda has evolved into a globally recognized re-insurance centre, providing over 35% of the world’s global property and casualty reinsurance capacity. The Bermuda Monetary Authority (BMA) has introduced market-leading regulations for digital asset businesses, including a sandbox that XBourse intends to enter to fine-tune its products.”
“Efficient capital markets are vital in the global quest for practical and large-scale carbon abatement projects, policies and outcomes,” Mr Mackay said. “We believe that blockchain technology can play a major role in proving the provenance of carbon instruments, most likely in tokenised instruments.”
XBourse intends to further enhance the Carbon Credit Marketplace by developing tokenised instruments (Nature Based Tokens) that will encourage direct investments in underlying nature-based carbon abatement projects. The marketplace could be expanded to include biodiversity rights, water rights, green hydrogen guarantees of origin and other credits derived from nature-based solutions.
ABOUT TYMLEZ
TYMLEZ is a sustainability-focused enterprise-grade solutions provider that develops and deploys leading software applications which leverage blockchain technology. The Company is focused on supporting clean energy and sustainability initiatives, along with other opportunities to develop products that rely on secure, trackable and traceable data transfer.
Visit tymlez.com for more information
ABOUT XBOURSE
Currently based in Asia, Europe, Bermuda and Australia, XBourse builds on its heritage of using new technology to make markets smarter, fairer and accessible to all. XBourse knows that marketplaces thrive when innovative solutions improve market structures and regulation, allowing new ways to raise capital and secondary market trading where buyers and sellers are brought together as the total frictional cost of trading is reduced.
XBourse founder Tony Mackay and the XBourse team were pioneers of institutional electronic trading — mainly whilst Tony was at Instinet between 1995 and 2012. In 2007, Tony founded Chi-X Europe for Instinet and a consortium of global quantitative trading firms and investment banks. By 2010 Chi-X Europe became the biggest pan-European trading venue with over 20% of the continuous trading volume. He also founded Chi-X Global, which developed and operated securities markets in Canada, Australia, Singapore and Japan.
TYMLEZ Corporate
Matthew Park
SVP Corporate & External Affairs
Matthew.park@tymlez.com
TYMLEZ Media
Janine MacDonald
Senior Advisor
Janine.macdonald@plcorporate.com.au
Xbourse Corporate
Tony Mackay
CEO & Founder
tm@xbmv.pro
Xbourse Media
Hugh Fraser
hugh@fccpr.com
