- Hedera-based credit marketplace by Virginia DEQ delivers real-time transparency, traceability, and price discovery across more than 600 mitigation banks.
- Beyond the environmental market, Hedera continues to expand across regulated use cases.
The Virginia Department of Environmental Quality (DEQ) partnered with WaterLedger to introduce a statewide environmental credit market, significantly enhancing the Hedera blockchain network. The US state of Virginia is building an environmental credit market on the Hedera blockchain. Virginia is a national leader in mitigation banking, a financing mechanism used by developers and construction companies to register and offset their environmental impacts.
As a result, DEQ selected a platform that enables end-to-end transparency, real-time supply and demand, digital credit identifiers, robust price discovery, and free market integrity across 600 mitigation banks. That’s why we chose Hedera for this new credit market.
This marketplace takes a new approach to how environmental credits are issued, tracked, and traded. This increases transparency, traceability, compliance, and overall market efficiency. Officials called the launch a major step for the company, which last month backed PharmaTrace, which provides a regulated decentralized physical infrastructure network (DePIN) across the pharmaceutical supply chain, CNF reported.
In a similar development, Hedera Foundation announced an integration with Ownera, a distribution network used by financial institutions. Together, the companies will work to simplify access for banks, broker-dealers, and asset managers to tokenized real-world assets on Hedera.
Additionally, Hedera is making significant inroads into machine economics and defense through a partnership with aerospace technology company Neuron. As mentioned in the previous article, these two organizations North Atlantic Treaty Organization (NATO). This demonstrates the growing interest in applying distributed ledger technology to critical national infrastructure and defense-related use cases.
HBAR price is showing signs of recovery, rebounding from the $0.10 support. Currently trading at the time of writing 3% to $0.1135 Market capitalization is $4.83 billion.
