Latin American Energy Firm Closes $75M Deal Using Blockchain
Feniix Energy, a little-known energy company operating in Latin America, just pulled off something unusual. They’ve acquired an active oil and gas operation—worth $75 million—using blockchain technology. The deal was finalized on June 17, according to a statement shared with CryptoSlate.
What makes this different? No banks were involved. Instead, the transaction was settled with stablecoins and structured entirely through tokenized debt and equity. That’s not something you see every day in the energy sector.
How the Deal Worked
Global Settlement, a blockchain firm focused on real-world assets, handled the mechanics through its GSX Protocol. Their system apparently cut down on settlement times, reduced risk between parties, and kept fees low. More importantly, every step—funding, ownership transfers—was visible on-chain.
The debt portion came from an unnamed commodity trading giant, which is interesting because this might be the first time a live energy asset was bought using a fully tokenized capital structure. No middlemen, no traditional paperwork. Just blockchain entries.
Alejandro Uribe, Feniix Energy’s Director, called it a “milestone.” He didn’t go overboard with the praise, but he did point out that blockchain offered speed and transparency that conventional financing usually lacks.
*”Working with Global Settlement shows how you can connect old-school finance with crypto,”* he said. *”It’s not just theoretical—there’s real value here.”*
Why This Matters
Kyle Sonlin, founder of Global Settlement, framed the deal as proof that tokenization isn’t just for crypto enthusiasts. He argued that moving assets on-chain simplifies funding and trims unnecessary costs.
Industry watchers seem to agree. This isn’t some experimental pilot—it’s a working oil and gas operation changing hands via blockchain. That suggests institutions are getting more comfortable with decentralized tools, at least for certain transactions.
Timing might play a role. Tokenized real-world assets (RWAs) are having a moment. A recent CoinGecko report noted that the market for tokenized treasuries exploded this year, growing over 500% to hit $5.6 billion. Whether that momentum lasts is another question, but for now, deals like this one add fuel to the trend.
Still, it’s early. Blockchain in energy financing isn’t mainstream yet, and there are plenty of skeptics. But if more companies follow Feniix’s lead, that could change faster than anyone expects. Or not. These things are hard to predict.
