NoviqTech (ASX: NVQ) has received grant funding from the Hashgraph Association to deliver Eco-Markets Australia’s (EMA) Registry 2.0, a modernised environmental credit registry supporting programs such as the Reef Credit Scheme.
The project will create a next-generation digital infrastructure for issuing, transferring, and retiring environmental credits using the Hedera Guardian open-source framework integrated with NoviqTech’s Carbon Central platform.
Eco-Markets Australia is developing Registry 2.0 as part of its strategy to support expanding environmental credit programs, including future schemes beyond Reef and Cassowary Credits.
The upgraded system will incorporate enhanced automation, improved accessibility, and greater interoperability so that participants can verify credit creation and project performance with increased confidence.
NoviqTech said the partnership represents a major step toward a fully verifiable, blockchain-enabled registry ecosystem designed to improve efficiency, transparency, and scalability across environmental markets.
Minimum Viable Product Delivery
NoviqTech will deliver the Registry 2.0 minimum viable product, including digital templates for Reef Credit projects, tokenised data structures, Know Your Customer integration, and a new framework for tracking high-integrity environmental assets.
The system will leverage Hedera Guardian’s policy engine to store digital measurement, reporting, and verification data on distributed ledger technology, ensuring immutable and auditable records.
NoviqTech chief executive officer Freddy El Turk said the initiative demonstrates how open-source, verifiable frameworks can “support trust and transparency across the market” while modernising Australia’s environmental credit infrastructure.
The Hashgraph Group will lead project management, scope alignment and oversight throughout minimum product viability development to ensure delivery meets technical best practice and EMA’s operational objectives.
EMA chief executive officer Goslik Schepers said the project reduces friction for participation in the Reef Credit Scheme and futureproofs its current registry as program demand grows.
Phased Funding Structure
NoviqTech will receive $160,000 in phased funding tied to eight project milestones covering platform design, development, integration, and validation, with the final contract value for subsequent phases dependent upon future funding allocations, project scope, and EMA’s ongoing program requirements.
Each milestone release will follow successful delivery against defined technical or functional outcomes, with further funding anticipated for Phase 2 as capabilities expand.
NoviqTech said it expects Registry 2.0 to enhance market integrity, provide verifiable credit histories for investors and project developers, and support increasingly complex nature-based and biodiversity programs.
EMA said the initiative aligns with its vision to deliver a resilient, future-ready digital infrastructure that supports Australia’s growing environmental credit economy.
