Thai Electrical Vehicle Charging Provider Sharge Will Launch A Utility Token On Tezos In Q3

Sharge

Sharge, a Thai electrical vehicle charging provider, will launch a utility token on Tezos in Q3 this year. The token will be part of a loyalty program that will offer discounts and other privileges for customers of Sharge.

It has been stated:

“SHARGE Management plans to grow exponentially within 5 years by pinning it to be the number one service provider in full-service EV charging services with a sales target of 3,000 million baht, along with the business roadmap.” – Mr. Peerapat Sirichantaropas, Managing Director of Sharge. 

The Thai electrical vehicle charging business is a fast growing market. Currently, Thailand has 6,000 public chargers, but aims to increase that number to 100,000 within the next few years. Sharge hopes to take a good part of the marketshare by adding 20,000 chargers.

The token offering will be provided by XSpring Digital, and traded on ERX. ERX is a Tezos-based exchange by Elevated Returns. 

NBIT token

In May this year, another token was announced to be trading on ERX. NBIT is an $80M real estate-backed STO (Security Token Offering) with approval of the Thai SEC.

The formal acceptance of the Thai SEC, has been a long process. Regulations and formal approval of STO’s have proven to be a time-consuming hurdle. But while regulations are beginning to take shape, the launch of STO’s should become a more frequent event.

ERX and Tezos

The Tezos blockchain is an important component of ERX. All traders that register on ERX will have personal addresses on the Tezos blockchain.

Due to the fact that users will need a separate address for each asset they own on ERX, every user will eventually have several Tezos addresses to his or her name.

Initial trades will be made in the custodial wallet and all transactions will be registered on the Tezos blockchain in batches. This way customers will be able to pay in fiat, while ERX takes care of the transaction costs which are paid in XTZ.

Why Tezos addresses? This is because all assets that are traded on ERX will be registered on the Tezos blockchain. And all the necessary info will be needed to be able to comply with the Thai SEC, so that it can be registered using Tezos’ token standards.

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