Mumbai-de Hashgraph group (THG) works together with the Mahatma Phule Backward Class Development Corporation Ltd. (MPBCDC) to set up the inaugural Hedera-driven state bank in India. This initiative aims to support the objectives for climate actions of the country and at the same time promote the economic development of marginalized communities.
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THG, an international technology company based in Swiss that specializes in Enterprise Solutions on the Hedera network, will collaborate with MPBCDC and his technical partner, Alyahub Technologies PVT. Ltd. The latter is known for its expertise in ERP system development and digital transformation.
Stefan Deiss, co-founder and CEO of THG, expressed enthusiasm for the partnership:
“We are delighted to create a safe and scalable state bank that contributes to the social and economic upliftment of marginalized communities. Our cooperation with Hedera, recognized as the world’s greenest DLT network, is a crucial step in the direction of improving ESG -naleving standards.”
Stefan Deiss, co-founder and CEO of THG
New legislation paves the road for carbon credit trade
The Indian government has recently introduced legislation aimed at the goals of greenhouse gas seals -intensity (Gei) within the framework of the Carbon Credit Trading (CCT) schedule. This new regulation is intended to set up an official Indian Carbon Market (ICM), thereby issuing entities that can surpass their emission goals, tradable carbon credit certificates. Conversely, those who fall short will be confronted with penalties.
With predictions in the industry that estimate that the carbon market of India could reach $ 50 billion in the next five years, the need for a digital carbon bank is urgent. The state bank of the State will use Hedera’s technology to facilitate compatible carbon credit trade, thereby guaranteeing traceability and transparency by unchanging digital certificates. This initiative is in line with the expertise of THG in the development of ESG solutions in various regions, including the EU, Mena and APAC.
Communities empowering by means of carbon credit trade
Prashant Dam, general manager of MPBCDC, emphasized the meaning of the initiative:
“This milestone will set the agricultural and marginalized communities of Maharashtra by generating extra income by carbon credits, which were previously lost due to insufficient traceability.”
Hemant Kambli, CEO founder of Aaryahub Technologies, emphasized their role in the project: “We are proud to offer the technological basis for this groundbreaking initiative. Our goal is to provide the government of Maharashtra and marginalized communities with advanced communities for efficient carbon crevity trade.”
The partnership was formally announced on July 3, 2025, during a signing ceremony in Mumbai, attended by government officials, market leaders and important partners. For more information, go to www.hashgraph-group.com.