Northern trust blockchain press release

northern trust blockchain press release

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The fully digital platform allows purchasers to transact tokenized carbon credits directly with project developers and retire these against their carbon footprint. Northern Trust is developing a digital program to provide access for institutional buyers to buy voluntary carbon credits from project developers as institutions work to meet net-zero goals. Chapman says using a blockchain allows project developers that are selling carbon credits to electronically capture the standards they use to certify a project and to show due diligence. He says smart contracts allow his organization to fully automate the time-consuming, due-diligence aspects that go into typical contracts, including know-your-customer and anti-money-laundering requirements, saving Go Balance time so it can focus on investing money received from carbon offsets to protect rainforests. On 23 June , Northern Trust established a new group, the Digital Assets and Financial Markets group, to support the rapidly growing digital asset markets and traditional securities services markets.