Carbon Partners with Karma to Provide Fiat On / Off Ramp and Market Making Service
Written by Carbon team
4.2.19 — Carbon Partners with Karma to Provide Fiat On / Off Ramp and Market Making Service
Carbon, a FinTech company dedicated to making the global economy more efficient and inclusive, is pleased to announce a comprehensive partnership with Karma, a social network for good on the EOS Blockchain.
Carbon’s modular fiat on / off ramp, Carbon Fiber, will be utilized by Karma in order to offer their users a convenient way to convert fiat to cryptocurrencies. Apart from the core on / off ramp capability, Karma users will also be able to utilize a mobile pay portal to convert multiple types of cryptocurrencies into KARMA tokens in a seamless fashion.
“We are thrilled to empower Karma’s users to frictionlessly convert their USD into KARMA through our proprietary fiat-to-crypto gateway. Moreover, our market making partnership will make it efficient to swap KARMA for other cryptocurrencies and offer much improved price discovery for Karma users,” said Nick Pai, Senior Engineer & Capital Markets Lead at Carbon.
“We are excited to offer our users choice. We want users to be able to easily transition from fiat into KARMA and then from KARMA to fiat using Carbon Fiber, the fiat on / off ramp. We are thrilled to provide these new services and enhanced liquidity through our awesome partners at Carbon,” said Dallas Rushing, Co-Founder of Karma.
Through this partnership, both parties will be able to positively impact the EOS ecosystem and enable Karma users to more easily acquire their preferred tokens at a more efficient price.
“Ultimately blockchain is about disintermediation and empowerment, two ideals Karma embodies perfectly. We’re honored to be working the Karma team to massively increase their immediately addressable market,” said Sam Trautwein, CEO and Co-Founder of Carbon.
Carbon is a FinTech company building a more efficient and inclusive financial system through distributed ledger technology and Artificial Intelligence. The company’s initial product is a price-stable cryptocurrency called CarbonUSD that is live on the EOS and Ethereum public blockchains.
Investors include General Catalyst, FirstMark, DCG, and Plug and Play among others.
Karma is a social network for good built on the EOS blockchain.
Users are incentivized to do good, share positive content, and receive KARMA tokens when their content is upvoted.