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DeepMarkit finalises deal with Malaysia’s Radiance for carbon credits projects

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Carbon credits NFT pioneer DeepMarkit Corp (TSXV:MKT) has finalised its deal with Malaysia’s Radiance Assets to set up a pipeline of potential carbon credit projects for onboarding to DeepMarkit’s carbon credits platform. Referrals of solid eligible projects will be important in getting DeepMarkit’s MintCarbon.io wider acceptance within the investor and carbon credit trading community.

DeepMarkit CEO Ranjeet Sundher hailed the fast progress of the deal as a significant milestone for DeepMarkit’s progress towards the mainstream development of the MintCarbon.io carbon credits platform. “Radiance’s confidence in MintCarbon.io further validates our thesis that utilising blockchain technology is the best pathway to accessibility, transparency and the international achievement of carbon neutrality,” he said.

Radiance’s introduction of new users and their carbon projects is also expected to bring significant transaction volume to the platform, Sundher said.

What is MintCarbon.io?

The MintCarbon.io platform creates NFTs that are deposited into the originator’s blockchain wallet, whereby the NFT or token will become a traceable, liquid asset capable of being listed for trading on nearly any decentralised exchange in the world. MintCarbon.io enables anyone to access information about carbon credit based NFTs or tokens, including a link to their respective trading platforms (e.g., OpenSea.io) through an easy-to-use interface.

“Radiance has the business connections and financial capacity to support DeepMarkit in the execution of its corporate goals,” explained Jamie Stevenson, CEO of Radiance. “Our recent investment in DeepMarkit and the execution of this agreement are a testament to our belief in the company and the sector.”

Under the terms of the deal, any minting and royalty-based revenues earned by DeepMarkit via Radiance’s referrals will result in a percentage-based sharing arrangement with Radiance. The fees payable to Radiance under the agreement will be payable in cash, common shares of DeepMarkit, or a combination thereof, at the sole discretion of DeepMarkit.

Deal demonstrates project sourcing in practice

The deal demonstrates how MintCarbon.io will be used at an early stage, with strategic partners and investors referring projects onto the platform. Project owners holding carbon credits will benefit from enhanced liquidity, security and exposure to purchasers around the world.

Based in Malaysia, Radiance is a diverse investment holding company with a focus on innovative and technologically driven businesses in the areas of cleantech, meditech and fintech. Radiance also has a focus on the environment and solutions that better peoples’ lives. As such it brings significant regional and technical expertise to the table for DeepMarkit.

Radiance also has several classes of funds including a new agritech fund being launched with an asset value of USD 250 million. Radiance is currently a shareholder of DeepMarkit via recent private placements.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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