Thailand Debuts Mangrove-Backed Carbon Credit Token in Green Finance Push

Token X, DITTO (Thailand), and Siam TC have launched Blu Green Token (BLU), Thailand's first digital asset backed by mangrove carbon credits. The offering ties environmental conservation to blockchain innovation, with 400 million tokens priced at THB 1.20 each, aiming to raise up to THB 480 million ($14.74 million).

The underlying credits derive from 17,531 rai (~28 sq km) of mangrove forests across 15 provinces, certified by Thailand's Greenhouse Gas Management Organization. The seven-year project targets exchange listing by Q3 2026 through Token X, a regulated ICO portal under SCBX, Siam Commercial Bank's holding company.

Six financial institutions including InnovestX Securities and Asia Plus Securities joined as partners, signaling institutional interest in Real World Asset (RWA) tokenization of climate projects—a growing trend as capital markets seek sustainable investment vehicles.