In a report to Reuters News Thursday morning, Brazilian cryptocurrency exchange Mercado Bitcoin said it has signed an agreement with Comerc, one of the major retail energy providers in Brazil, to develop renewable energy tokens. Mercado Bitcoin and Comerc aim to implement two types of tokens.

The first, to be launched in 2022, will include a cashback plan for solar power generation. Currently, Comerc customers receive between 15% and 20% of their electric bill with cash back if they decide to switch to solar. The second symbol will be associated with certificates confirming the consumption of energy from renewable sources.

In a statement to Reuters, Mateus Nogueira, CEO of Nouri, which distributes electricity to Comerc, said:

The token can be treated like any other currency, but it has the added benefit of being a token that represents a new generation.
Meanwhile, the project manager at Comerc made the following comment regarding the company’s three “denier” renewable energy initiatives:

First, decarbonization, promoting clean energy; The other is decentralization, and our capabilities are based on distributed generation… and finally digitization.
Bitcoin Mercado claims to be the largest cryptocurrency in Latin America with more than three million customers. According to CoinGecko, there are 11 coins listed on the exchange and the trading volume over the past 24 hours was $19.4 million. Earlier this year, Mercado Bitcoin raised a $200 million investment from Japanese multinational Softbank Group. Since January, the exchange has traded the US dollar equivalent in cryptocurrencies worth over $5 billion.

Source: CoinTelegraph