KlimaDAO x Mobilum: Opening the gates to the crypto climate economy
From March 2022, users will be able to buy KLIMA tokens with 82 fiat currencies, directly on the KlimaDAO website.
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.
Who is Mobilum, and what is an on-ramp?
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.
Who can buy KLIMA via Mobilum?
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.
Opening the gates to the on-chain climate finance market
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.
Beginnings of a long-term partnership
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.
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