VeChain continues to expand its partnerships following its previous collaboration with the Crypto Carbon Ratings Institute (CCRI) to quickly implement a framework ensuring compliance with the EU’s Markets in Crypto Assets regulation (MiCA), as reported in a recent CNF update.

One of VeChain’s key partners, SolarWise Own The Sun AG, is making significant strides in integrating renewable energy with blockchain technology. SolarWise is nearing the completion of its first solar farm in Brazil, scheduled for September 20th, 2024. As sustainability efforts gain traction globally, the number of active contracts on the VeChain platform is increasing.

SolarWise Partners with VeChain, Delays $SUN Token Launch

The progress of the solar farm, including security features and the final stages of construction, will be monitored by the community in real-time via a live feed on SolarWise’s DAPP. Despite postponing the launch of its $SUN token, SolarWise aims to maximize user value by focusing on the $VET token. The company has assured users that XP earned on their DAPP remains unaffected by the delay.

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As SolarWise awaits critical regulatory approval from FINMA, CEO Ronnie emphasized their dedication to bridging the gap between traditional and decentralized industries, stating, “We’re excited to ensure our innovations impact both spheres.”

Meanwhile, VeChain’s token, $VET, is currently trading at $0.02278, reflecting a slight decline of 0.08% over the past day and 4.56% over the past week, according to CoinMarketCap data.

Nevertheless, through its partnership with VeChain, SolarWise has selected $VET as the primary token within its ecosystem. This strategic move is intended to enhance $VET’s utility by incorporating it into critical functions such as minting Solar NFTs, processing transactions, and facilitating monthly energy sale payouts. This integration strengthens the synergy between SolarWise and VeChain, benefiting both parties.

Source: crypto-news-flash.com

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