GaiaSwap: The Eco-Commodity DEX Bringing Transparency & Inter-Operability to Fragmented Carbon Credits & I-REC(E)s markets

GaiaSwap is a decentralized exchange (DEX) that enables peer-to-peer trading of tokenized environmental assets and sustainability-linked products, including carbon credits and I-REC(E). GaiaSwap works closely with registry operators and other exchanges to ensure compliance with local environmental and financial (digital asset) regulations, and inter-operability between sovereign registries and marketplaces.

Operating within a secure, closed blockchain infrastructure and using custodian accounts as the only gateways for entry and exit, GaiaSwap facilitates advanced price discovery, real-time market insights, and permits local regulatory oversight. This creates a transparent, efficient, and secure marketplace for sovereign-recognized environmental assets. GaiaSwap (Singapore) Pte. Ltd., was incorporated in 2023 and is currently operating in Bangkok, Thailand.

Why they Stand Out

GaiaSwap’s mission is to transform the trading of environmental assets and sustainability-linked products to the requirements of next-generation markets that are characterized by the dominance of:

• the sovereign determination of the allowed use of these assets (i.e., as a contribution to a domestic climate target vs. international transfer vs. voluntary offset),

• (national) registries (decentralized), 

• national markets/exchanges, and 

• the regulation of these assets as financial instruments.  

GaiaSwap’s proprietary technology provides the required functionality, creating interoperability between these decentralized, self-sovereign systems, enhancing efficiency, and promoting transparency in a marketplace that would otherwise remain opaque and highly fragmented. 

GaiaSwap is designed to scale rapidly across regional and global markets, with an API-ready solution that can easily integrate with national and voluntary registries. The platform leverages blockchain technology to ensure full traceability of tokenized assets and uses an Automated Market Maker (AMM) to automatically execute peer-to-peer transactions seamlessly through smart contracts. Inter- and intra-registry trades and asset swaps that would take days to execute otherwise can now happen in a matter of seconds. 

In summary:

• Tokenized Environmental Assets in Compliance with Financial Market Rules for Digital Real-World Assets: Secure tokenization of environmental assets via a custodian account structure, ensuring full traceability, enforcement capacity, and custody for asset trading and swapping.

• Bridging for Inter-Operability: Architecture provides for tokenized, real-time inter-asset and inter-registry trading & swapping.

• Price Discovery and Real Time Settlement: Real-time market insights on pricing attributes for environmental assets and other sustainability-linked products.

• Permissioned for Global I-REC(E) Tokenization: First Platform Operator (aka marketplace/ exchange) to meet the accreditation requirements of the I-TRACK Foundation and permission to tokenize I-REC(E), enabling seamless global trading & swapping.

• Permissioned Carbon Credit Tokenization in Thailand: Carbon credit tokenization and trading (incl. inter-asset swapping) in compliance with Thailand’s Digital Asset regulations (serving as blueprint for other countries).

• Technological Innovation: Leveraging a layer-2 blockchain protocol to seamlessly execute peer-to-peer transactions across multiple asset classes and otherwise disconnected registry systems; API-ready proprietary solution that can fully integrate with national registries.

Why Watch

Singapore entered into a large number (28+) of bilateral carbon trading agreements, thus evidencing the emergence of a bottom-up, decentralized market structure. This includes  a bilateral carbon credit agreement with Thailand (GaiaSwap’s launch market), enabling the purchase of Thai-issued carbon credits to offset emissions under Article 6 of the Paris Agreement.

Thailand’s SEC has revised the digital asset regulations to allow licensed exchanges, brokers, and dealers to list, trade, and provide services for tokenised environmental commodities. Other countries are expected to follow suit. 

Established a centralized platform provider to enable the trading of tokenized environmental assets through the Canton Network.

• Market Validation: ASEAN is planning a regional carbon market (ASEAN Common Carbon Framework “ACCF”), with Thailand in the lead. The bilateral agreement with Singapore, the existing agreement with Switzerland, ongoing negotiations with Japan, and Singapore’s 28+ bilateral agreements with other countries (incl. the Philippines and Vietnam) signal the region’s leadership in cross-border carbon credit trading. Tokenization appears to be the most suitable solution to promote interoperability.

• Regulatory Support: New digital asset law in Thailand enables carbon credits to be tokenized, thus opening up access to larger market entities. This signals a large opportunity for integrating environmental assets into the Thai digital economy - allowing regulated trading of tokenized carbon credits under SEC’s supervision. 

• Strategic Alignment: GaiaSwap is strategically positioned to capitalize on this opportunity by offering the first decentralized exchange as a proprietary solution to trade green digital RWAs. 

• Near-term Monetization: GaiaSwap targets a US$180M+ market in Thailand and Singapore, leveraging integrated carbon credit and I-REC(E) product offerings.

This creates a natural opportunity for Thailand to emerge as the launchpad for GaiaSwap’s business model. GaiaSwap is poised to be a trusted partner in delivering transparent, efficient, and scalable solutions to unlock this regional market, positioning Thailand and scaling via Singapore as a key partner in the regional carbon market ecosystem.

Meet the Team

• Nick (Nicky) Purves — Brings global expertise in engineering and clean energy, with a commitment to driving GaiaSwap’s vision in transforming the eco-commodities market - making trading simpler, more transparent, and accessible across interoperable markets.

• Alisha Alexander - COO. Brings global expertise across ESG, sustainability, commodities, strategy and finance. Former director at Goldman Sachs, Alisha has led commodity indices, structured product sales and regulatory reform within the commodity asset class at national levels. She now drives GaiaSwap’s complex operational and business initiatives by scaling climate finance and blockchain solutions.
• Jaherul Alom - CTO. Brings extensive experience in software engineering with a proven track record in developing proprietary technology solutions. Jaherul leads the development of GaiaSwap’s platform, driving technological innovation and ensuring scalability, security, and seamless user experience.
• Ingo Puhl — Advisor. Brings global and regional carbon market expertise. Ingo is a carbon market pioneer who has midwifed the first-ever carbon fund, as well as the first-ever transaction under Art 6 of the Paris Agreement (between Thailand and Switzerland).

WOWS Take

With a large whitespace in standardized, high-integrity climate instruments and regional policy momentum, GaiaSwap is positioning itself as a purpose-built exchange layer for environmental assets and sustainability-linked products for the next generation of carbon markets that are characterized by the leadership of sovereign regulators. If the team can onboard credible supply, demonstrate compliant participant workflows, and catalyze two-sided liquidity, it could become the default venue for eco-commodity price discovery across Asia. Early product traction, a focused scope, and founder-led execution make GaiaSwap one of the more investable sustainability-infrastructure plays to watch.

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