{"id":549,"date":"2024-10-28T15:36:26","date_gmt":"2024-10-28T15:36:26","guid":{"rendered":"https:\/\/ksa.fintechnews.media\/?p=549"},"modified":"2025-02-26T14:50:12","modified_gmt":"2025-02-26T11:50:12","slug":"saudi-based-web3-provider-tge-raises-450000-investment-from-adaverse","status":"publish","type":"post","link":"https:\/\/ksa.fintechnews.media\/?p=549","title":{"rendered":"Saudi-based Web3 provider TGE Raises $450,000 Investment from Adaverse"},"content":{"rendered":"\r\n\r\n\r\n

Riyadh, Saudi Arabia<\/strong> \u2014 Adaverse<\/a>, a leading Web3 and blockchain fund based in Saudi Arabia, has announced a strategic investment in Tharawat Green Exchange (TGE)<\/a>, an innovative startup dedicated to supporting environmental sustainability through Web3 technology. This investment aligns with Saudi Vision 2030, a national initiative focused on environmental sustainability and economic diversification.<\/p>\r\n\r\n\r\n\r\n

Addressing Climate Change with Blockchain Technology<\/strong><\/h2>\r\n\r\n\r\n\r\n

TGE is pioneering carbon offsetting within Saudi Arabia, leveraging blockchain to connect carbon offsetters with local nurseries and land projects. This platform contributes to Saudi Arabia\u2019s ambitious goal of planting 10 billion trees by 2040, fostering both ecological health and economic growth. TGE\u2019s model exclusively focuses on Saudi-based projects, differentiating itself from international providers by prioritizing local environmental impact. The platform unites three primary stakeholders: projects in need of trees, nurseries supplying them, and individuals or organizations offsetting their carbon footprint by funding the tree planting.<\/p>\r\n\r\n\r\n\r\n

The SAR 1.69 million investment from Adaverse will be directed towards expanding TGE\u2019s blockchain infrastructure, enhancing sales and marketing initiatives, and securing Vera certification for its carbon credits. This certification will help TGE establish its carbon credits as a globally recognized and valued asset in the carbon market.<\/p>\r\n\r\n\r\n\r\n

Commitment to Sustainable Innovation<\/strong><\/h2>\r\n\r\n\r\n\r\n

Vincent Li, Founding Partner of Adaverse, emphasized the significance of the partnership, stating, \u201cOur investment in TGE aligns perfectly with Adaverse’s mission to foster Web3 solutions that address real-world challenges. TGE\u2019s approach to integrating blockchain with environmental sustainability has the potential to redefine carbon offsetting and tree planting initiatives in the region.\u201d<\/p>\r\n\r\n\r\n\r\n

Yakeen Al Zaki, CEO and co-founder of TGE, added, \u201cWith Adaverse\u2019s support, we are poised to make a significant impact on Saudi Arabia’s sustainability goals. Our platform simplifies participation in environmental initiatives, allowing anyone to contribute towards building a greener future.\u201d<\/p>\r\n\r\n\r\n\r\n

Future Expansion and Market Potential<\/strong><\/h2>\r\n\r\n\r\n\r\n

Positioned in a $500+ billion global carbon offsetting market, TGE is also eyeing expansion opportunities worldwide, aiming for a market projected to reach $1 trillion annually with a growth rate of 6% per year. To support these ambitions, TGE plans to raise an additional SAR 1.5 million, intended to further product development, infrastructure enhancements, and market reach.<\/p>\r\n\r\n\r\n\r\n

As TGE continues to grow, it remains committed to utilizing blockchain technology as a powerful tool for environmental sustainability, contributing to a cleaner, greener future in alignment with Saudi Vision 2030.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Riyadh, Saudi Arabia — Adaverse, a leading Web3 and blockchain fund based in Saudi Arabia, has announced a strategic investment in Tharawat Green Exchange (TGE), an innovative startup dedicated to supporting environmental sustainability through Web3 technology. This investment aligns with Saudi Vision 2030, a national initiative focused on environmental sustainability and economic diversification. Addressing Climate […]<\/p>\n","protected":false},"author":1,"featured_media":550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[254],"tags":[174,9,28,31,269,268,371],"class_list":["post","format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/posts\/549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=549"}],"version-history":[{"count":3,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/posts\/549\/revisions"}],"predecessor-version":[{"id":2669,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/posts\/549\/revisions\/2669"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=\/wp\/v2\/media\/550"}],"wp:attachment":[{"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ksa.fintechnews.media\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}