Latin America’s largest cryptocurrency exchange is preparing to launch a renewable energy token

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2021-11-10 20:44:07

Mercado Bitcoin, the largest cryptocurrency exchange in Latin America, is planning to launch two separate tokens that promote the use of renewable energy.

Latin America’s largest cryptocurrency exchange is preparing to launch a renewable energy token

10, the Mercado Bitcoin exchange said it has signed an agreement with Comerc, one of the main retail energy suppliers in Brazil, to develop a renewable energy token. Mercado Bitcoin and Comerc are looking to implement these two tokens as soon as possible.

The use of renewable energy in the field of cryptocurrencies is gradually becoming very popular. Especially after the event of stopping accepting Bitcoin payments because of environmental concerns. In The World . event, Elon Musk has also stated that Tesla will only re-accept BTC payments when miners use 50% of green energy to mine.

However, the first token is expected to launch in 2022, tied to a refund scheme for solar energy production. Currently, Comerc customers get up to 15% to 20% cashback of the value of their electricity bill if they choose to switch to solar. The second token will be linked to certificates that record energy consumption from renewable sources. Matheus Nogueira, CEO of Nori, said:

“The idea for innovative tokens can be thought of as any other currency, but they have an added benefit, which is representation of a clean energy generation.”

Mercado Bitcoin is the largest cryptocurrency exchange in Latin America, with over three million customers. In early July, Mercado Bitcoin attracted a $200 million investment from Japanese multinational Softbank. The exchange has processed over $5 billion USD in its transactions since January 2021.

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