PANews reported on July 2 that according to Bloomberg, JPMorgan Chase is developing a new service to tokenize carbon credits and is working with three carbon-related companies to conduct the first pilot. According to a statement released on Wednesday, JPMorgan Chase's blockchain division Kinexys is working with S&P Global Commodity Insights, EcoRegistry and International Carbon Registry to test a new application that will tokenize carbon credits listed in the registration systems supervised by the three companies. The companies will explore whether blockchain technology can be applied to routine activities, such as tracking changes in ownership of carbon credits from issuance to cancellation.