Singapore-based blockchain infrastructure provider InterOpera announced the debut of its platform for exchanging carbon credits and renewable energy certificates. OperaX. The platform is supported by Project Genesis 2.0a joint project of the BIS Innovation Hub Centre, the Hong Kong Monetary Authority and the United Nations Framework Convention on Climate Change focusing on green finance with two consortia.

InterOpera uses cutting-edge blockchain technology to digitize carbon credits and address key industry challenges in today’s carbon markets, including double counting, issuance and offsetting.

This is achieved through the unique mechanism of the blockchain architecture, which provides an auditable and verifiable trace of the entire carbon credit lifecycle from creation to offset, and incorporates an additional layer of trust in the established framework of carbon credit registers.

This strategic approach enables the effective monitoring and transfer of digitized carbon credits between issuers, buyers and sellers and is designed to drive product innovation while ensuring compliance, transparency and credibility of carbon credit transactions.

OperaX will offer a 0% transaction fee for buyers to create more transparency and fairer prices in the carbon markets and strives to be a reputable, buyer-centric and friendly exchange in the industry.

The company will initiate a month-long open beta with its ecosystem partners to promote corporate sustainability while promoting the use of carbon credits via OperaX to achieve carbon neutrality.