Published Fri Feb 04 2022
KlimaDAO is dedicated to fighting climate change by embedding the cost of carbon into a carbon-backed currency called KLIMA. KlimaDAO’s goal is to increase liquidity and activity in the carbon markets, by creating an incentive for the supply and purchase of on-chain carbon credits.
At the moment, however, that goal is hindered by the friction involved in purchasing KLIMA. Unlike cryptocurrencies such as Ethereum or Bitcoin, which are listed on centralized exchanges (CEXs), until now KLIMA has been unavailable for purchase directly with fiat currency such as USD or EUR. As a result, the purchasing process has been complex, with a high barrier to entry.
KlimaDAO has entered into a partnership with Mobilum, and from March 2022, users will get seamless access to KLIMA — even without significant blockchain knowledge and experience. Users will be able to exchange any of the 82 different fiat currencies for KLIMA directly from the Mobilum website using a credit or debit card.
Mobilum is a company that creates a bridge between cryptocurrencies and traditional (fiat) currencies, like dollars or euros. Since KLIMA is not yet available on centralized exchanges, that creates a barrier to entry for many would-be participants in the on-chain carbon economy.
Mobilum provides a direct route for investors to engage with KlimaDAO, without the need for a separate crypto wallet. Connecting KLIMA directly with fiat currency purchases is called on-ramping, because it’s a method (or ramp) to bring on new participants who might otherwise find it difficult to invest in crypto.
The Mobilum integration will support the use of 82 (and growing) fiat currencies. At launch, users will be able to make purchases with their Visa and MasterCard credit and debit cards. Partnering with Mobilum enables us to receive near-global coverage. To learn whether your fiat currency will be supported, click here.
In just a few months since KlimaDAO’s launch, functionality within on-chain carbon markets has been increasing, delivering tangible, real-world impact. To name just a few use-cases, participants in the on-chain economy have been able to contribute to saving the Amazon from deforestation (with some 1.3m hectares — 17x the size of New York City — conserved via MCO2 tokens). Participants will soon also be able to offset their carbon footprint via Klima Infinity (an opt-in incentive program that enables organizations to retire tokenized carbon offsets).
KlimaDAO is positioning itself as the engine that is catalyzing developments in this emerging on-chain climate finance market. It is already evident that transparency, price discovery, and interoperability between carbon products is flourishing — a contrast with traditional carbon markets, which have struggled to grow and innovate.
The Mobilum on-ramp opens the gates for a much wider audience to enter this emerging economy via KLIMA. In August of 2021 alone, Mobilum had a total transaction volume of over US$6 million, and has continued to grow each month. By integrating Mobilum directly into our website, KlimaDAO will be looking to unblock pent up demand for KLIMA through a seamless on-ramping process.
We recognize that this partnership is aligned with a path to broad cryptocurrency adoption: a world where seamless Web 3.0 interactions take center stage, and crypto infrastructure sits behind the scenes.
KlimaDAO and Mobilum share a strong commitment toward innovation, and we will continue working together to further simplify transactions involving cryptocurrency and traditional financial instruments, ultimately making KLIMA even more accessible. On-ramping is just part of the process, and there are more features on our shared roadmap. As KlimaDAO and Mobilum’s integration deepens, Mobilum users will be able to leverage innovative ways to use KLIMA as adoption for cryptocurrencies grows.
The information provided in this blog post pertaining to Klima DAO (“Klima DAO”), its crypto-assets, business assets, strategy, and operations, is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this blog post should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This blog post does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Klima DAO and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and Klima DAO expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Klima DAO reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this blog post supersedes any prior blog post or conversation concerning the same, similar or related information. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither Klima DAO nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this blog post by you or any of your representatives or for omissions from the information in this blog post. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this blog post.