Bangkok, Thailand – Ascend Bit, a leading blockchain solutions provider under the Charoen Pokphand Group, has partnered with Carbonmark, the global marketplace for environmental assets, to integrate carbon offset features into the TrueMoney Wallet. This innovative solution empowers 27 million users of the daily payment and financial service app to seamlessly offset their carbon footprint and achieve carbon neutrality with ease.
- – Suntory’s Mizuiku Water Conservation Project Wins Corporate Social Impact Award
- – Indorama Ventures Showcases Sustainability Innovation at COP29
“At Ascend Bit, we’re on a path to bring tens of millions of Thais onto the public chain via simple account abstraction that enables access to tokenized real-world assets on the open blockchain. Among the first RWAs that would get a real advantage being tokenized is carbon credit – transforming its accessibility and transparency is the real game-changing proposition for carbon markets,” said Apinand Dabpetch, Managing Director, Ascend Bit.
“Our main channel is through creating an abstracted account for each user on TrueMoney Wallet, Thailand’s number one fintech application with over 20 million monthly active users by Ascend Money company, also under Ascend Group. Then, our partnership with Carbonmark allows users to pay fiat in TrueMoney to select a variety of environmental projects, buy 70 to 930 kg of that project’s tokenized carbon, and retire (use the carbon) on the user’s behalf to be carbon neutral for 7 to 90 days at a time.”
“Carbonmark’s API will connect to the tokenized carbon on Polygon chain, burn them, and store the resulting retirement certificate as NFT on each user’s own abstracted account. This method of carbon offset is not only faster and more transparent, but also way more efficient: it costs 3-10 times less per tCO2 than other carbon offset programs, with the same certification standard, available for Thai consumers. By embedding cutting-edge blockchain technology into everyday transactions, we are empowering individuals to make a positive environmental impact while enhancing their financial experience. Together, we’re redefining the role of technology in fostering a greener tomorrow.”
“We are proud to partner with Ascend Bit to make climate action more accessible for millions of individuals in Thailand through the TrueMoney Wallet. This collaboration empowers users to offset their individual emissions by supporting impactful projects such as forestry, renewable energy, and other vital initiatives that include positive social and economic co-benefits. We’re proud to work with Ascend Bit Corp to ensure that every purchase of carbon credits directly supports nature, contributes to a healthier planet, and enables people to align their daily choices with meaningful environmental action,” said Andrew Bonneau, Managing Director of Carbonmark.
This collaboration represents a significant step forward in integrating sustainability into everyday financial activities. By providing flexible options for carbon neutrality (7, 30, or 90 days) and access to blockchain-verified carbon credits, the partnership ensures users can confidently support environmental projects certified by globally recognized standards. Through this joint initiative, Ascend Bit and Carbonmark are not only empowering individuals to make a positive environmental impact but also setting an example of how technology can be a force for good in addressing the global climate crisis.
About Ascend Bit
Ascend Bit, a pioneer blockchain solutions provider within the Charoen Pokphand Group, leverages advanced blockchain technologies to drive innovation, support business growth, and enhance customer experiences across diverse industries. As a trusted technology partner for TrueMoney Wallet—Thailand’s leading fintech application and the most downloaded local application of 2023—Ascend Bit contributes to the development and implementation of blockchain initiatives within the application.
About Carbonmark
Carbonmark is a cutting-edge platform that connects nature to the global economy. By employing blockchain infrastructure, Carbonmark facilitates the seamless flow of environmental assets, ensuring transparent pricing, efficient settlements, and increased market confidence. Carbonmark is dedicated to scaling environmental markets and supporting climate action by simplifying access to carbon credits and other environmental commodities.
#AscendBit #Carbonmark #TrueMoney #CarbonOffset #ClimateAction #Blockchain #Technology #Sustainability #Environment
