🌍 KlimaDAO Japan is set to launch a new marketplace for carbon credits, in collaboration with the Progmat stablecoin platform. The project aims to facilitate carbon credit trading by companies and local governments using Progmat's stablecoin. The marketplace, dubbed KlimaDAO Japan Market, may eventually go global.

KlimaDAO, a blockchain organization committed to combating climate change, anticipates the marketplace will trade J-Credits carbon credits, which debuted on the Tokyo Stock Exchange in October.

Despite the current limited trading volumes, the global market for carbon credits is expected to skyrocket to $172.9 billion by 2030, with Japan contributing $1.9 billion.

Phase 2 of the project, involving the registration of JPYC as an electronic payment method, is expected to wrap up by year-end. Phase 3 will see the start of overseas trading and the development of individual marketplaces by financial institutions and companies.

Notably, billionaire Mark Cuban is among KlimaDAO's backers. The project operates on the Polygon network, which has pledged to go carbon neutral in 2022.