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Investors in Hong Kong and Zurich have teamed up to support the emerging “ecological blockchain” industry through a new joint venture called Sphere. It’ll be entirely focused on backing ESG-forward startups that are using blockchain technology to advance the Sustainable Development Goals (SDGs), from clean energy to responsible production.
Sphere wants to support the emerging ecological blockchain sector. Launched by Zurich-based Tavis Digital and Hong Kong-headquartered Sonic Capital, the new joint Actively Managed Certificate (AMC) will be dedicated to investing in startups that are “repurposing” blockchain to save the planet.
Repurposing blockchain for the planet
“While the media stays fixated on moonshots and popular tokens, new projects have been delivering a measurable impact on society and the environment,” says Sphere. “A new crop of companies are developing the infrastructure for this budding economy.”
And it’s these companies that Sphere wants to put its money in. It’ll be led by Sonic’s Stefan Rust, who previously led Bitcoin.com as CEO, along with Alyssa Aaron, and Tavis’ Dr. Bernhard Vogeli, Christian Speckhardt and Rene Schmidli.
“We truly believe in the potential and the future of impact-relevant blockchain technology applications,” says Speckhardt. “Sphere primarily supports blockchain companies that are tackling climate change by building solutions focused on CO2 mitigation and climate adaptation.”
How it’ll choose which clean energy infrastructure and application layer tokens to invest in depends on how much they align with the United Nations’ SDGs, using the framework as a criteria. Companies can range from renewable energy to other impact solutions like blockchain-driven innovations to improve traceability in supply chains.
Related: Gates says Bitcoin ‘not great for climate’ but proponents say crypto to drive renewable revolution
Planet-friendly crypto profits
According to Sphere, it’ll provide “more than just access to blockchain-powered impact investments” for investors. It aims to make the whole process easy, breaking down the technical barriers in the cryptocurrency space, and “providing a gateway for fiat investors to participate in blockchain technologies.”
In other words, it wants to attract traditional investors into this emerging space, where profits can be made while also helping the planet. Sphere’s product, a bankable security, can be purchased via Swiss ISIN, a similar process as buying traditional equities.
“Sphere’s value proposition is to minimize complexities for investors engaging in the revolution of the sustainability markets, while keeping a yield-focused mindset when it comes to obtaining exposure to the underlying token assets,” explains Rust. “Individuals are now able to seamlessly invest in crypto assets with traditional fiat currencies, from Hong Kong Dollars to Indian Rupees or European Euros.”
Lead image courtesy of Unsplash.