Singapore Launches First National Plastic Passport Program with SMX

Singapore, in collaboration with SMX (NASDAQ:SMX) and ASTAR, has launched the world's first national plastic passport program. This initiative aims to address the inefficiencies in plastic recycling systems by marking plastics at a molecular level, allowing for detailed tracking throughout their lifecycle.

Currently, Singapore incinerates 94% of its 957,000 tonnes of annual plastic waste, with only 6% recycled. By rechanneling a portion of this waste into the SMX system, the nation could save S$27 million in incineration fees and generate S$75 million in certified resin value.

SMX's technology assigns a scannable digital identity to plastic, providing real-time proof of recycled content and authenticity. The program introduces the Plastic Cycle Token (PCT), a tradeable asset backed by verified audits, offering a transparent alternative to traditional carbon credits.

This model presents a new approach to sustainability, turning waste into a marketable commodity and aligning with impending regulatory demands, thereby setting a precedent for regional replication across ASEAN countries.