A new exploratory project involves Japan’s biggest bank MUFG and KlimaDAO Japan, the organization known for its tokenized carbon credits. It will explore using the JPYC stablecoin issued on the Progmat blockchain platform to settle tokenized carbon credit transactions.
KlimADAO is multi-faceted and was initially known internationally for tokenizing carbon credits on public blockchains and making them available to individuals. The core functionality also includes the ability to retire credits.
Additionally, last year it globally launched a more enterprise-like marketplace, Carbonmark. While the backend of the solution uses blockchain (Polygon), tokenized carbon credits and smart contracts, the usability is more mainstream. For example, it accepts bank transfers to settle transactions and is integrated with SAP. The goal is to enable a low cost and transparent solution for corporates.
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