ADGM is set to become the first jurisdiction globally to regulate carbon credits and offsets as emission instruments, and to issue licences for exchanges to operate both spot and derivative markets.
ACX intends to initially use its distributed ledger technology within a traditional commodity trading construct to create tokenised carbon credits for spot trading.
Ahmed Jasim Al Zaabi, chairman of ADGM, said: “This initiative reinforces ADGM’s commitment and ongoing efforts to cement its position as a leading international financial centre and world-class global commodities and carbon trading hub.