Brazilian capital markets firm VERT is pioneering tokenization on the XRP Ledger (XRPL), signaling a significant step in blockchain adoption for Latin America’s financial sector.
This initiative focuses on private credit issuance, starting with a landmark Agribusiness Receivables Certificate (CRA) transaction valued at approximately $130 million.
Silvio Pegado, managing director of Ripple in Latin America, emphasized the importance of enhancing credit structuring and tracking in Brazil’s agribusiness sector, which represents over 20% of the country’s GDP.
VERT leverages XRP Ledger to tokenize private credit in Brazil’s agribusiness, driving transparency and efficiency in capital markets with a $130M initial issuance.
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VERT’s adoption of the XRP Ledger for tokenizing private credit instruments marks a pivotal development in Latin America’s blockchain landscape. By launching its platform with the issuance of an Agribusiness Receivables Certificate (CRA), VERT targets a sector that significantly contributes to Brazil’s economy. This move not only facilitates more efficient credit management but also aligns with Ripple’s broader strategy to expand blockchain utility across emerging markets. The CRA transaction, valued at 700 million Brazilian real (~$130 million), exemplifies how tokenization can streamline regulatory compliance and improve asset liquidity in traditionally opaque markets.
The XRP Ledger has witnessed exponential growth in tokenized real-world assets (RWAs), surging over 2,260% within six months to exceed $118 million in total value. This momentum is bolstered by major players such as Mercado Bitcoin, which plans to tokenize over $200 million in fixed income and equity instruments on XRPL. Additionally, Guggenheim Treasury Services’ issuance of U.S. Treasury-backed digital commercial paper on the Ripple blockchain underscores XRPL’s increasing adoption by institutional investors. These developments highlight XRPL’s robust capabilities in supporting diverse asset classes with enhanced transparency and operational efficiency.
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Source: https://en.coinotag.com/vert-explores-tokenization-of-private-credit-on-xrp-ledger-amid-growing-real-world-asset-interest/