Singapore’s MVGX launches carbon SaaS subsidiary, appoints ex-BSI exec to take the lead
The Singapore-based digital asset trading platform and fintech MVGX has established a new subsidiary dedicated to carbon Software-as-a-Service (SaaS) products and services and has appointed an ex-British Standards Institution (BSI) exec to lead its operations.
The new subsidiary, MVGX Tech, has consolidated its offering into a Carbon Connect Suite, which focuses on carbon measurement, reporting and verification (MRV), decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading infrastructure.
The suite is also capable of answering the call for “verifiable, high-integrity data” in corporate carbon reporting through the subsidiary’s proprietary Non-Fungible Digital Twin (NFDT), which the company says provides “an auditable, transparent trail of all transactions and associated data pertaining to carbon footprint and carbon credits”.
The subsidiary and its suite of products are ultimately seeking to connect companies with “a more transparent and thorough understanding of their sustainability journeys” while enabling compliance with increasing regulatory requirements for carbon reporting, which led to its development in collaboration with ISO certification bodies, such as BSI and TÜV-SÜD.
Dr. Bo Bai, executive chairman and co-founder of MVGX, confirms that the company has been developing its technology capabilities, expertise and infrastructure across the entire decarbonisation value chain “for the past few years”.
“The formation of MVGX Tech is a culmination of that work as we continue to formalise and strengthen our offerings in the Carbon SaaS space.”
Frank Zhang takes the lead
MVGX has appointed Frank Zhang, “a fintech, ISO standard certification and sustainability veteran” to lead the new subsidiary as president.
He is to leverage two decades of experience in business strategy, advisory services and technology management within his new role, and has actively worked across markets in the US and Asia Pacific.
Prior to joining MVGX Tech, Zhang served in a variety of leadership positions in companies concerning information technology, banking, insurance, management consulting and marketing.
Most recently, he served as managing director of Greater China for the national standards body BSI between July 2021 and July 2023, where he was responsible for “the overall organisation and its business growth, partnerships and government relations in the Greater China market”.
His professional experience also extends to IBM, Citibank, Bank of China, Capgemini, Ernst & Young and Dentsu International.
Reflecting on the formation of the new subsidiary and his role within its success, Zhang explains how the climate crisis has generated a call among all organisations to “take immediate action”.
While committing to decarbonisation is one thing, he ensures that “having the right tools, data and expertise to verifiably back them up is another”.
For Zhang, MVGX Tech’s goal is to “enable companies to effectively measure, manage and report their carbon footprint and to achieve their carbon reduction targets while meeting evolving regulatory requirements and shareholder demands for greater climate responsibility”.
“With his expertise in bringing technology solutions to market, I’m thrilled to have Frank leading the team during this exciting period of growth, especially as the demand for sustainability reporting solutions intensifies in the market,” adds Bai.