Agreena, the world’s leading soil carbon platform, has announced the world’s first product to enable instant and seamless real-currency payments for carbon credits on-blockchain.
The product will use Monerium euro tokens as cash payments for carbon credits issued to farmers on the Algorand blockchain. The service is provided in partnership with the payments institution Ztlment.
The global market for carbon credits is predicted to grow to $50 billion by 2030. With agriculture accounting for nearly ⅓ of global greenhouse gas emissions, a substantial fraction of future carbon credits will be issued to farmers who reduce emissions or capture carbon on their farms.
Agreena periodically monitors and reports participating farmers’ greenhouse gas reductions and carbon removals. The company mints soil carbon certificates which the farmers can sell on the voluntary carbon market.
Issuing carbon certificates as tokens on blockchains opens access to 24/7 peer-to-peer global trading and financing for this new, fast growing, and environmentally important real-world asset class.
Using Monerium authorized and regulated e-money tokens, European farmers will now be able to convert their carbon certificates into real-currency on-chain starting with the euro.
We look forward to continuing to harness the power of Web3 to combat climate change in partnership Agreena, Ztlment, and other leading greentech and fintech companies.