Xpansiv, the largest spot exchange for environmental commodities, revealed that it will spin out its finance data subsidiary, Fiutur, to deal with specific challenges and give better services to its energy transition participants.
Xpansiv runs the market infrastructure to rapidly scale the global energy transition. The environmental commodities it trades include carbon credits, renewable energy credits, and digital fuels.
The company’s CEO, John Melby, asserted the role of environmental markets in the transition, saying that:
“Environmental markets are a critical tool in accelerating the global energy transition and Xpansiv is focused on providing and operating the core registry and market infrastructure for these global markets to evolve.”
The New Fiutur
Xpansiv’s decision will allow its capital markets participants like banks as well as data providers to include environmental markets for more integrity across the capital lifecycle.
The newly formed company, Fiutur, is a powerful financial data platform. It will have its own governance and capitalization, separate from Xpansiv and will run with more independence over time.
Fiutur will have the following board of directors and executives:
- Directors: Jamila Piracci, Tom Lewis, and Roseann Palmieri
- Executive Chair – Will Stewart
- CEO – Joe Madden
- COO – Sam Teplitsky
The key reason that prompted the spin off of Fiutur is to help Xpansiv’s stakeholders to face specific challenges related to energy transition finance.
The decision comes after Xpansiv’s move to license its global environmental numeric reference system called the Universal Project Numbers (UPN). This system has been tracking millions of environmental assets, together with its digital dMRV (measurement, reporting, and verification) technology.
The referencing system links environmental market and sustainable finance data. It was licensed by T-REX, a financial infrastructure provider for fixed income investments, in April this year.
Fiùtur will further take advantage of Xpansiv’s UPN by incorporating roles-based data governance and ownership across multiple parties. This will result in certain and conclusive outcomes in finance, markets, and insurance.
As the world transitions to clean energy in the coming years, trillions of dollars are necessary to fund it.
In effect, market participants are requesting scalable solutions to emerging risks and opportunities. And so, the new company “is purpose built to help them do that”, says Fiutur CEO.
