U.S. State Government Adopts Hedera for Environmental Credit Trading in Virginia

Source: CryptoNewsNet Original Title: U.S. State Government Adopts Hedera for Environmental Credit Trading in Virginia Original Link: The Hedera blockchain network gets a major boost as the Virginia Department of Environmental Quality (DEQ) has partnered with WaterLedger to bring a statewide environmental credit marketplace. Virginia is a national leader in mitigation banking, a financing mechanism used by developers and construction firms to register and offset environmental impacts.

As a result, the DEQ has selected a platform that can deliver end-to-end transparency, real-time supply and demand, digital credit identifiers, robust price discovery, and free-market integrity across 600 mitigation banks. The marketplace takes a new approach to how environmental credits are issued, tracked, and traded, offering better transparency, traceability, and compliance to improve overall market efficiency.

Expanding Beyond Environmental Markets

In a similar development, the Hedera Foundation announced an integration with Ownera, a distribution network used by financial institutions. Together, they will work to simplify access to tokenized real-world assets on Hedera for banks, broker-dealers, and asset managers.

Moreover, Hedera is also making a big move into the machine economy and the defense sector by partnering with aviation technology firm Neuron. The two organizations are lined up for a potential partnership with the North Atlantic Treaty Organization (NATO), showing the growing interest in applying distributed ledger technology to critical national infrastructure and defense-related use cases.

Market Performance

The HBAR price is showing signs of recovery, bouncing back from the support at $0.10. As of press time, it is trading 3% up at $0.1135 with a market cap of $4.83 billion.