Brazilian cryptocurrency MCO2, which is backed by carbon credit and used to offset CO2 footprints, gained 700% and became the first national cryptocurrency listed by a global Top 30 broker. The news was disclosed by the company Moss.Earth, responsible for the token. The currency is now being traded on one of the largest exchanges in the world, Probit.
MCO2 was audited by international institutions and registered with Verra, the foundation responsible for the global registration of voluntary credits. As reported by Moss.Earth, MCO2 will be traded starting this Thursday (01) – an event that also marks the first time that Probit opens its platform for the sale of carbon credits.
For exchange customers, there will be a pre-sale that, among other advantages, will offer a 10% bonus on the purchase of the asset. With that, until April 7, the cryptocurrency will be quoted at US $ 15.00 (about R $ 86.15 in direct conversion). Currently, the asset is available on the Bitcoin Market, FlowBTC and Uniswap platforms.
Carbon credit: how does it work?
In general, carbon credits are units of measurement that correspond individually to one ton of carbon dioxide and serve to calculate the reduction in greenhouse gas emissions, as well as their possible commercial value.
In just one year of existence, Moss.Earth and its customers have sent more than US $ 13 million to the Amazon for the preservation of 780 million trees. According to the company, the partnership with Probit will allow more people to collaborate to neutralize CO2 emissions and support environmental protection projects.
Expectation of recovery
According to institutions like the IMF, the price of carbon credit will increase significantly in the coming years. The estimate is that each ton costs US $ 100 (R $ 563.19, according to the quotation of the day). As for MCO2, it is expected to increase by up to 550%. If the expectation is reached, its market value will have taken a new leap, reaching no less than R $ 575.