KlimaDAO, the leading provider of tokenized carbon credits, has today announced the launch of its Fiat to Retirement payment service. It gives users of the tokenized carbon market the ability to offset their carbon credits using fiat payment gateways provided by C3.app and Offsetra LLC.
Fiat to Retirement enables tokenized carbon credits to be retired without requiring a Web3 wallet to be set up, a process that can sometimes be a barrier to accessing the market for those who are not experienced in managing a crypto wallet.
Read More: Lets Understand Crypto In A Laymans Language
By improving access and making the retirement of tokenized carbon credits accessible for all customers, the benefits of this market can be passed on to more consumers. Benefits of the tokenized carbon market include:
- Immediate execution of retirements directly onto the Polygon blockchain;
- A more transparent user experience powered by the Klima Data Carbon Dashboard; and
- More competitive and transparent pricing for carbon credits.
Read more: Robotics And Artificial Intelligence
C3 will accept wire transfers on behalf of Klima Infinity clients wishing to offset their emissions directly using fiat. Offsetra uses Stripe as a third-party payment provider to facilitate transactions.
Giorgio Donà-Danioni of C3 said: “By providing this service to KlimaDAO we can continue to help connect the legacy market with the digital carbon market and overcome market barriers associated with the adoption of Web3 tech. We expect to see further growth of this market and are committed to providing better and more transparent services for consumers in line with their needs.”
Sy Zygy, Product Lead for KlimaDAO, said: “By allowing our users the ability to pay for their tokenized carbon credit retirements directly with a credit card without needing to create a cryptocurrency wallet, we make it even easier for non-crypto users, particularly our business users, to take direct climate positive action. We have already facilitated over $4 billion worth of carbon asset transactions in the last year, and Fiat to Retirement is an important step forward in our mission to expand access to the tokenized carbon market by making it easy for any person, business, or application developer to directly participate in the market.”
Read : Cybersecurity Timeline and Trends You Should Know before Planning for 2023
