Japan’s largest bank collaborates with KlimaDAO on carbon credit marketplace
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
- MUFG and KlimaDAO Partnership: Japan's MUFG bank collaborates with KlimaDAO Japan to explore using the JPYC stablecoin for settling tokenized carbon credit transactions on the Progmat blockchain platform.
- Progmat Infrastructure: Progmat provides the infrastructure for stablecoin issuance, and MUFG had a previous collaboration with Binance in this regard.
- JPYC Stablecoin: The JPYC stablecoin, operational since 2021, functions as a prepaid money instrument and has regulatory options under Japan's stablecoin legislation.
- KlimaDAO Initiatives: KlimaDAO aims to simplify the process for domestic companies in Japan to purchase and utilize carbon credits through initiatives like the KlimaDAO Japan Market.
- Market Predictions: Observers suggest that the Japanese carbon credit market could reach three trillion yen by 2030, while the global market is valued at 39 trillion yen.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
