Brazil’s Mercado Bitcoin to Issue 2 Renewable Energy Tokens: Report
The country’s largest crypto exchange is working with local energy trader Comerc to launch the first token as early as December.
Nov 9, 2021 at 11:08 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DD7FHNV6U5BNDATY5CGV2B5KWU.jpg)
Roberto Dagnoni, CEO and executive chairman of 2TM Group, Mercado Bitcoin’s parent company (Mercado Bitcoin)
Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.
Mercado Bitcoin, Brazil’s largest crypto exchange by trading volume, reached an agreement with Brazilian energy trader Comerc to release two renewable energy tokens, Reuters reported Wednesday.
- The first token will work as a cashback reward for Comerc customers who generate renewable energy through the company’s distributed generation system, Sou Vagalume. The company plans to allow the purchase of the token for a fixed amount and later to offer the digital asset for trading in a secondary market.
- Users of Sou Vagalume now get 15% to 20% off their total electricity bills.
- Comerc has 5,000 customers using its distributed generation system, although it expects to reach 150,000 customers by the end of 2022.
- Roberto Dagnoni, CEO of 2TM Group, the holding company for Mercado Bitcoin, said that if a customer has a monthly expense of 1,000 Brazilian reais (about $180), he would receive 150 Brazilian reais converted into tokens per month.
- According to Dagnoni, both companies are completing the legal and regulatory details and the product should be ready in December or January.
- Bitcoin Market and Comerc plan to launch a second token, backed by the International REC Standard, a certificate that documents electricity consumption from renewable energy sources. It is still in preliminary stages, Reuters reported.
- In June, Mercado Bitcoin raised $200 million from the SoftBank Latin America Fund in a Series B funding round . That was the largest B round ever in Latin America and SoftBank’s largest investment in a Latin American crypto company.
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Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.
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Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.
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