According to CoinDesk, tokenized trading project Neutral and German brokerage firm DLT Finance have developed a blockchain-backed exchange for carbon credits. These financial instruments represent forests and renewable energy products that businesses can use to offset their carbon footprint. The tokenized real-world asset (RWA) project has secured regulatory approval from Germany's financial regulator BaFin to operate the exchange, making it the first of its kind. Neutral CEO Farouq Ghandour said his company is the 'tech provider,' while DLT Finance provides 'the regulatory backbone.' The product removes the blockchain from the end-user experience, allowing the 10 commodity trading houses and brokers being onboarded to use the platform without needing to tokenize assets or use a MetaMask wallet. Ghandour emphasized the importance of having a regulated counterparty for financial institutions.