MarinaChain has signed a memorandum of understanding (MOU) with Galaxy Moneytree, Korea Maritime and Ocean University, and SH Cooperative Bank for the joint issuance of ocean carbon emission rights token securities (STO). About 20 officials attended the signing ceremony, including Dan Ha, CEO of MarinaChain, Kang Shin-sook, President of Suhyup Bank, Shin Dong-hoon, CEO of Galaxy Moneytree, and Do Deok-hee, the president of Korea Maritime and Ocean University.
The MOU's aim is to increase the accessibility of transaction participants for carbon emission investment projects that individuals found difficult to participate in by utilising token securities in response to the expansion of the voluntary carbon market (VCM) led by the private sector. As a result, consortium participants plan to develop ocean carbon emission-related businesses through token securities that can use various underlying assets and also collaborate to discover related financial products that can support fisheries and aquaculture.
Dan Ha stated, "We are excited to be part of this consortium that aims to explore the use of token securities to increase accessibility to carbon emission investment projects. We believe that this collaboration will help support the growth of the ocean decarbonisation sector and related financial products that can benefit not only the environment but also the fisheries and aquaculture industry."