KlimaDAO and the Japanese stablecoin issuer may eventually trade carbon credits internationally.
KlimaDAO Japan intends to launch a new marketplace for carbon credits, to be called KlimaDAO Japan Market. It has joined the Progmat stablecoin platform to study the trading of carbon credits by companies and local governments using a Progmat stablecoin. The project may eventually expand globally.
KlimaDAO, a decentralized autonomous organization devoted to fighting climate change, foresees the KlimaDAO Japan Market eventually trading J-Credits carbon credits, launched in October on the Tokyo Stock Exchange. Trading may gradually expand to a global scale on Carbonmark, where KlimaDAO is already active, according to a statement.
J-Credit trading volumes remain “limited” so far. The international market for carbon credits amounts only to $2.9 billion, of which only $288.1 million is voluntary credits, according to the statement. It predicted that the world market may reach $172.9 billion by 2030, with Japan accounting for $1.9 billion of that sum.
