Chicago-based custody bank Northern Trust has started using a blockchain-based platform which allows institutional buyers to digitally access carbon credits from leading project developers.
Pete Cherecwich, president of asset servicing, said: “The Northern Trust Carbon Ecosystem supports the growing interest in the voluntary carbon market by providing a digital lifecycle management capability for voluntary carbon credits.
“The seamless and secure settlement experience is designed to give project developers and institutional buyers confidence in their carbon credit transactions, with Northern Trust as the custodian.”
