GX Labs Leverages Chintai Nexus to Launch BioChar Carbon Credit Backed by Industry Leading Puro.earth Standard

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Mar 26, 2024, 09:00 ET

FRANKFURT, Germany, March 26, 2024 /PRNewswire/ -- Chintai Nexus, a compliant Real World Asset (RWA) platform powered by the Chintai Exchange token (CHEX) , announces the first of several carbon credits projects to be launched in 2024 by GX Labs.

GX Labs Launches Carbon Exchange on Chintai Nexus

GX Labs white labeled Chintai Nexus to issue a BioChar carbon token, which is backed by Nasdaq's leading industry standard Puro.earth. Microsoft and other forward thinking global corporations have made large investments into carbon credits that use the Puro.earth standard, giving the GX Labs BioChar token credibility as elite globally recognized carbon removal credit.

David Packham, Chintai CEO said, "Working with companies like GX Labs is why we created Chintai Nexus. Enabling small companies to create transparency and traceability in Carbon Credit markets is not a nice to have, it's an essential part of legitimizing this asset class. As we accelerate towards 2030, major governments will impose strict carbon emissions laws. Net carbon emitters, including the largest corporations globally, will have to buy carbon credits like the GX Labs BioChar token to offset their emissions. With GX Labs, we're raising the standard and enabling integrity in carbon credit markets."

This unique opportunity allows users registered on the Nexus Platform to buy BioChar carbon credits at USD 50. Nasdaq and Puro.earth publish carbon removal reference price index, CORC Biochar Price Index CORCCHAR. The cost reduction is a direct result of the Chintai Nexus on-chain infrastructure that allows GX Labs to go direct and eliminate intermediaries in origination and distribution channels. The pilot issuance is $3M USD and enables the completion of sequestration of carbon that will back each BioChar token on the Chintai Nexus platform.

Leon Potthoff, President of GX Labs said, "We're thrilled to bring this opportunity to investors through the Chintai Nexus platform. By using their compliant blockchain infrastructure we guarantee that each carbon token is backed by carbon and cannot be corrupted by greenwashing. This is the first of several projects we plan to launch on Chintai this year."

The Chintai Nexus platform is powered by the CHEX token. Every issuer who uses the platform leases CPU automatically from CHEX token holders who stake their resources to the network CPU resource pool. This innovation enables a fully on-chain high performance solution for RWAs, including primary, secondary, self custody and on-chain compliance controls.

About Chintai Nexus:

Chintai Nexus offers a comprehensive solution for responsible digital assets and utility tokens. The Chintai Nexus platform seamlessly connects decentralized finance and traditional finance through compliant blockchain technology. Operating on a Blockchain Platform-as-a-Service (BPaaS) model empowers businesses with access to a full suite of on-chain features and functionalities. The solution also enables businesses to leverage the full potential of blockchain technology and an end-to-end white-labeling solution. It facilitates dynamic utility token issuance, high-performance secondary trading, a marketplace, and an automated compliance infrastructure designed for diverse emerging digital assets.

Media Contact: Evan Shepard
[email protected]

GX Labs

GX Labs aims to pioneer carbon-negative investments on a carbon-neutral blockchain, utilising an on-chain platform to enhance ESG tokenisation and marketplace powered by Chintai. GX Labs drives businesses towards sustainability with transparent, low-carbon technology alongside licensed Fund Managers with a mandate for eco-conscious investing in Asia. GX Labs' strategic intent is to accelerate global CO2 reduction as a premier community-governed platform focusing on climate change, environmental degradation, decarbonisation and Green Technology. Find out more: www.greeniumx.io

Media contact: Leon Potthoff

[email protected]

This press release should not be considered investment advice, the basis for investment decisions, nor a source of legal, tax, or accounting guidance. It does not constitute an offer for sale nor a solicitation of an offer to buy any product or make any investment. This document may contain forward looking statements including statements regarding the Chintai Group's belief or current expectations with regards to the performance of its businesses. Forward looking statements are subject to certain risks, uncertainties and assumptions, and there can be no assurance that such statements will be accurate and actual results could differ materially. Therefore, you must not place undue reliance on forward-looking statements. The Chintai Group assumes no obligation to provide any revisions to, or update, any forward-looking statements.

SOURCE Chintai