SAN FRANCISCO, Digital wallet provider, Eco, has partnered with climate action organization, KlimaDAO, in order to become a climate-positive company.
Through the partnership, Eco will also be sharing its community-building technologies and programs, as well as a grant of its open rewards currency, Eco Points, to help KlimaDAO continue to grow its global community of climate activists.
Eco has made a “Smart Money” promise to consumers to correct the misalignment with their current financial services, which offer near zero interest and impose high fees, by building its tools on better infrastructure, operating with a business model fully aligned with their interests, and delivering a top-tier product. Eco does this through its digital wallet that offers up to 5 percent APY on deposits, 5 percent cash back on in-app purchases, and rewards for all saving and spending through the app in the form of Eco Points, Eco’s open rewards currency.
KlimaDAO, for its part, is inventing the future of clean money to correct society’s misalignment with our economy’s environmental costs. It’s realizing this vision by creating a carbon-backed cryptocurrency and increasing the value of carbon—the higher the price of emitting carbon, the more businesses are incentivized to produce low-carbon technologies and engage with carbon-removal projects. To date, KlimaDAO has stored over 15 million tonnes of carbon avoided or removed from the atmosphere in its treasury via tokenized carbon credits and is offering new decentralized products to democratize climate action.
Both Eco and KlimaDAO believe that we can all win together—individuals, communities, corporations, and the environment. To that end, KlimaDAO is helping Eco immediately become a climate-positive company, by Eco offsetting triple its corporate carbon footprint through 2022, as well as offsetting every employee’s work-related footprint. Eco has also committed to deploying Klima Infinity, KlimaDAO’s innovative new incentive program for helping organizations make and keep their pledges to become and remain climate positive in the years to come.
In turn, Eco will donate a grant of Eco Points to KlimaDAO to reward its community members for actions that support its mission of climate financial activism such as onboarding new members, answering their questions, or performing environmental good deeds. Eco is also sharing community-building technologies and engagement programs that have helped keep its community of global members deeply engaged in its mission to reinvent and realign the financial system.
“KlimaDAO and Eco are fundamentally aligned around what money can be—not only a means for enabling your daily life, but also a tool for creating the world you want to live in,” says Eco CEO, Andy Bromberg. “We’re proud to join KlimaDAO in taking a stand together for climate action and open systems—both components of the world we jointly believe in. This is the start of Smart, Clean Money.”
“KlimaDAO is thrilled to partner with Eco to leverage the power of blockchain technology in shaping a more sustainable future. Eco’s mission to democratize finance strongly aligns with our own mission of allowing anyone to engage with carbon markets and is a testament to the transformative potential of decentralized systems”, says Dionysus, KlimaDAO pseudonymous core contributor.
Through this collaboration, Eco and KlimaDAO are taking a step toward a future where money is both smart and clean—and in which everything else is dirty money.
About Eco
Eco is a digital wallet for saving and spending. It replaces checking accounts, credit cards, and more with a single product that rewards you every time you save, spend, or send your money. Eco leverages a novel business model aligned with customers, unlike anything else in the market. Eco’s backers include a16z Crypto, Founders Fund, L Catterton, Activant Capital, Coinbase Ventures, Expa, Slow Ventures, and over one hundred others.
About KlimaDAO
Klima is a climate action organization utilizing blockchain technology to build the carbon market of the future. Anyone may participate in the decentralized autonomous organization (DAO) governing KLIMA, the clean digital currency backed by over 15 million+ tonnes of carbon credits. KLIMA tokens are the key to unlocking the Web3 carbon market we need to accelerate climate action.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire
