Blockchain
AirCarbon Exchange Bolsters Abu Dhabi Hub With Key Senior Hires
AirCarbon Exchange (ACX) is expanding its MENA hub with three senior hires and the addition of four key tech developers in Abu Dhabi, as its growth accelerates. ACX is partnering with Abu Dhabi Global Market (ADGM) to create the world’s first fully-regulated carbon trading exchange and carbon clearing house.
Ingo Kleinschmidt has been appointed Chief Financial Officer; Tim Alltimes has joined as Chief Compliance Officer and Ashwin Ambudkar is the new Head of Market Supervision. They join at a key stage of growth for ACX, which is launching the world’s first fully-regulated carbon exchange, based in Abu Dhabi.
“We are at a critical time in the formation of global carbon markets,” said Kevin B. Iwanaga, ACX COO for the MENA Region. “ACX continues to execute on its strategic growth plans as a leading force in scaling global carbon and environmental markets.”
Ingo Kleinschmidt brings over 15 years of experience in strategic business planning & governance, having held senior finance roles at a number of international corporations, including ABN Amro.
Tim Alltimes, a senior regulatory compliance expert specialised in commodity derivative and digital asset exchanges, previously held senior positions with financial regulators in both Abu Dhabi and the United Kingdom. He also has extensive experience in commodities trading with Morgan Stanley, Deutsche Bank and Lehman Brothers.
Ashwin Ambudkar, with a remit to monitor all transactions and trades, brings over 13 years of expertise in compliance and exchanges, having worked with Credit Suisse, Citi Corp, Nomura and the Bombay Stock Exchange.
The new additions will further accelerate ACX’s expansion, following its recently-announced collaboration with AGDM and partnerships with CarbonX, Bolsa Verde Rio, Tembici, BlockC and Deutsche Börse.
“As the world’s first fully digital carbon exchange, ACX remains an innovative market leader and continues to break new ground,” said Iwanaga. “ADGM’s Financial Services Regulatory Authority (FSRA) is set to become the first financial regulator in the world to develop a framework to recognize and support carbon as an investment grade commodity financial asset.”
“The proposed new ‘Emissions Instrument’ will pave the way for corporates and investors to trade and finance carbon credits like conventional financial assets on balance sheet,” Iwanaga explained.
With technology innovation key to its core strategy, ACX is also strengthening its global tech team based out of Abu Dhabi. It has recently hired 4 senior full stack and blockchain developers and a Vice President of engineering in order to accelerate its efforts as a leading innovator in environmental product development.
“ACX’s market-leading technology is a direct result of our investment in technical talent as well as our internal processes, which are centred around continuous improvement, education, collaboration and learning,” said ACX CTO Dominic Morris. “We are able to deliver world-class technical solutions entirely because of the calibre of our team, and their professionalism,” he continued. “I am deeply proud of our people and what we have achieved to-date and look forward to continuing to innovate. We welcome the opportunities presented to us by Abu Dhabi and FSRA regulation of our platform.”
Besides Abu Dhabi, ACX has a presence in Singapore, Canada, the United Kingdom, Brazil, Indonesia, with other locations to be announced in the coming months.
Blockchain
Switzerland Regulatory Technology Business Report 2024: Market to Surpass $550 Million by 2029, Driven by Collaborative Opportunities and Data Privacy Solutions
Swiss RegTech Market
Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
The post DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla appeared first on HIPTHER Alerts.
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