Brazilian cryptocurrency exchange Mercado Bitcoin said it has signed an agreement with Comerc, one of the main retail energy providers in Brazil, to develop renewable energy tokens. Mercado Bitcoin and Comerc seek to implement two types of tokens. The first, set to launch in 2022, will be tied to a cashback scheme for solar energy generation. Currently, Comerc customers receive up to 15% to 20% of their electricity bills’ value in cashbacks should they choose to switch to solar energy. The second token will be linked to certificates that document energy consumption from renewable sources.
Mercado Bitcoin claims to be the largest cryptocurrency in Latin America, with more than three million customers. The exchange lists 11 coins and had a trading volume of $19.4 million in the past 24 hours. Earlier this year, Mercado Bitcoin attracted a $200 million investment from Japanese multinational conglomerate Softbank. The exchange has processed the USD equivalent of over $5 billion in crypto trades.