Yaala Labs, the global market infrastructure provider, today announces the successful implementation of its P8 platform at Carbonplace to power its voluntary carbon market.
Carbonplace was launched by nine leading banks* and selected Yaala Labs in late 2023 to provide its core technology platform. Built on Yaala Labs’ cloud-native P8 technology, the Carbonplace platform was integrated with Verra’s carbon registry for the initial launch, with a pipeline of other registries to follow.
Yaala Labs’ P8 is next generation market infrastructure that supports tokenisation, primary markets, secondary trading, clearing & settlement, custody and asset servicing for a variety of assets.
“We are excited to support Carbonplace as they build best-in-class solutions to help corporations on their road to net zero,” commented Lalin Dias, CEO of Yaala Labs. “We are proud to bring our two decades of institutional market technology experience to the voluntary carbon market.”
Scott Eaton, CEO, Carbonplace added: “We were pleased to collaborate with Yaala Labs on this next phase of our growth. In such a dynamic sector, time to market is key and Yaala Labs implemented our solution in a matter of months, demonstrating the versatility of their platform and how quickly they can launch new markets”.
* BNP Paribas, BBVA, CIBC, Itaú Unibanco, National Australia Bank, NatWest Group, SMBC, Standard Chartered, and UBS
