DITTO Lists BLU on Bitkub, Backed by Mangrove Carbon Credits

Digital FinanceCorporate Action
โดย Kaohoon·Read original
Summary · why it matters

Ditto Thailand, or DITTO, has listed its digital investment token, Blu Green Token, or BLU, for trading on the Bitkub Exchange platform for the first time on July 20, 2026. BLU is a token linked to blue carbon, or carbon credits from a mangrove restoration project, with approximately 400,000 tonnes of carbon dioxide equivalent in carbon credits as the underlying asset. The project issued 400 million tokens at an initial offering price of 1.20 baht per token, representing a fundraising value of no more than 480 million baht. One token is backed by assets equivalent to one kilogram of carbon credits. The funds raised will be used to restore mangrove forests across 15 provinces to increase greenhouse gas absorption and generate income for communities. The mangrove area used in this pilot project is approximately 17,500 rai, accounting for less than 10 percent of the over 170,000 rai that the group of companies has the right to manage together with communities. The project has a duration of about seven years, while the right to manage the mangrove area lasts approximately 30 years, allowing the company to continue developing carbon credits from the remaining area. The company expects to begin measuring and certifying carbon credits for the first time in the fifth year of the project, after which it will sell the carbon credits and distribute benefits to token holders according to specified conditions. Mr. Thakorn Rattanakamonporn, Chief Executive Officer of DITTO, said that the trading price of BLU in the secondary market may reflect expectations for the future direction of carbon credit prices, as the token is backed by environmental assets, unlike general digital assets that lack directly linked fundamentals. However, holding BLU does not mean that token holders can directly exchange tokens for carbon credits, because BLU is a digital investment token, and holders will receive benefits linked to the value of the underlying carbon credits according to the project's conditions. The previous offering attracted interest from institutional investors, retail investors, and private companies, resulting in subscription demand exceeding the amount offered, particularly from operators in the food, export, logistics, and packaging sectors, which are increasingly focusing on carbon cost and risk management. This demand aligns with overseas environmental measures, including the Carbon Border Adjustment Mechanism, or CBAM, and the trend toward carbon taxation, which may increase cost burdens for exporters in the future. Meanwhile, Thailand is in the process of pushing forward climate change legislation to upgrade greenhouse gas emission controls from voluntary to more mandatory mechanisms, which is expected to support long-term demand for carbon credits. For accounting purposes, the company will initially record the funds received from the token issuance as a liability, as it still has obligations to token holders, before gradually recognizing revenue when the project is certified and carbon credits can be sold in accordance with accounting standards.

Impact on stocks 1

Carbon Removal (DAC)▲ · 1 stocks

Theme Impact 2

Off-coverage companies 1

BitkubPrivate▲ Positive
Demandrelevance

Bitkub lists a new token, potentially increasing trading volume and platform activity.

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