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ACX Partners with Trayport to Facilitate Seamless I-RECs Settlement, Accelerating Trading Efficiency and Reducing Counterparty Risk

Published

4 months ago

May 29, 2024

Collaboration enhances the renewable energy market through efficient I-REC settlement, contributing to a settled volume of over 450,000 MWh in the past six months. This achievement enables global reach, a strong regulatory framework, and cost-efficient transactions for market participants.

ABU DHABI, UAE and SINGAPORE and LONDON, May 29, 2024 /PRNewswire/ — ACX Ltd (AirCarbon Exchange), a leading environmental markets exchange located in Abu Dhabi Global Market, announced a strategic collaboration with Trayport on International Renewable Energy Certificates (I-RECs) settlement. Since its launch, the collaborative efforts have facilitated the trading and settlement of over 21,000 MWh of International Renewable Energy Certificates (I-RECs), contributing to a total settled volume of over 450,000 MWh in the past six months.

The collaboration allows traders to settle via ACX, leveraging Trayport’s technology to offer global reach, while benefitting from the regulated framework and robust risk mitigation from ACX. The platform ensures efficiency and cost-effectiveness while reducing counterparty risk for participants.

Andrew Cullen, Global Head of Business Development at ACX, commented, “Our collaboration with Trayport on I-RECs settlement is a testament to our commitment to driving innovation in the environmental commodities market. The results since launch highlight the demand for a secure and efficient platform that mitigates counterparty risk and provides global market access. We’re thrilled to continue providing a reliable and cost-effective trading solution for our partners.”

“IREC’s and the broader Energy Attribute Certificates (EAC) markets are critical tools for allowing companies to meet corporate and global environmental standards. They allow renewable energy to be sourced, trace the origin of energy, credibly document consumption and demonstrate reductions in GHG. This can be a fragmented and opaque market to navigate, and we’re delighted that ACX has chosen to use Trayport’s renowned energy platform to bring visibility and choice to participants,” said Peter Conroy, Chief Executive Officer at Trayport.

Market participants have also recognised the value of the partnership:

Ruben Ortiz-Hernandez, Director and co-Founder at Ecompensate, said “Our trading experience via Trayport/ACX has been very positive. From a trader’s perspective, it provides an excellent interface to monitor the market across a wide array of IRECs bids and offers. The trade execution process is seamless, significantly reducing both counterparty risk and administrative burdens.”

As companies around the world strive to reduce their carbon emissions, I-RECs represent credible documentation of their use of energy from renewable sources, facilitating the achievement of their decarbonisation goals.

I-RECs also represent a valuable additional revenue stream for renewable energy producers who secure these certificates and trade them on the open market.

ACX’s I-REC offering via Trayport reflects its commitment to enhancing the renewable energy market. This service enables traders to efficiently manage their portfolios. As the world transitions to cleaner energy sources, ACX continues to empower participants with innovative tools that facilitate impactful contributions toward sustainability goals.

About the ACX Group:

ACX (AirCarbon Exchange) Group, which includes ACX Abu Dhabi (ACX Ltd) and AirCarbon Pte. Ltd., operates respectively environmental trading platforms in Abu Dhabi and Singapore. It serves corporates, financial traders, carbon project developers, and other industry stakeholders, offering an efficient, transparent, and cost-effective trading platform that leverages distributed ledger technology to foster the growth of environmental product markets in line with global Net Zero goals.

ACX Group is proud to be a member of the International Emissions Trading Association (IETA) and the International Sustainability and Carbon Certification (ISCC), reinforcing its commitment to sustainable and responsible carbon and environmental product trading. It has been recognised as the Best Global Carbon Exchange by Environmental Finance’s prestigious Voluntary Carbon Market Rankings for three consecutive years (2021, 2022, 2023), establishing itself as an industry leader.

For more information, please contact [email protected] or visit www.acx.net and www.acx.ae.

About Trayport

Trayport is a technology company providing solutions for global commodity markets. We connect different markets and providers and aggregate market data to enable informed trading decisions. Trayport offer technical solutions for European energy, international commodity and environmental markets and their network and solutions support the growth of their clients and trading markets. Trayport also provide analysis and insight tools and now has a global presence with locations in the USA, Singapore, Austria, and Germany.

For media enquiries, please contact:
ACX:
Serene Lim-Allison
Email: [email protected]

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Latest News

COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches

Published

1 month ago

August 7, 2024

CISION (PR Newswire)

HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.

Launch of Physical Cards

COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.

Wallet Growth Milestone

The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.

Transaction Volume Surge

In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.

Integration with Revolut

COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.

Award Recognition

COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.

New Strategic Partnerships

COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.

Welcoming Pavel Matveev

COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.

Season 2 Point System Launch

Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.

NFT Giveaway

In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.

For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.

Website: coca.xyz

COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.

About COCA

COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.

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View original content:https://www.prnewswire.co.uk/news-releases/coca-celebrates-q2-2024-with-record-breaking-milestones-and-new-launches-302216619.html

Latest News

Stake and Earn with KuCoin’s Innovative GemPool Platform

Published

1 month ago

August 7, 2024

CISION (PR Newswire)

VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.

GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.

Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.

For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.

About KuCoin

Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.

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View original content:https://www.prnewswire.co.uk/news-releases/stake-and-earn-with-kucoins-innovative-gempool-platform-302216471.html

Latest News

Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning

Published

1 month ago

August 7, 2024

CISION (PR Newswire)

DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.

Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.

In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.

On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”

Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”

Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests

About Trust Wallet

Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.