The Brazilian titulization firm Vert has launched a private credit platform based on Blockchain in the Book Mayor XRP, which debuted with an issue of 700 million Brazil’s 700 million (approximately $ 130 million) of a certificate of accounts receivable (CRA) of agribusiness, according to a release.
The CRA, a key instrument used to group future cash flows in the agricultural sector of Brazil, was recorded in the chain using the XRPL and its EVM Sidechain compatible with Ethereum, allowing real -time monitoring of cash flows, loan events and payments.
The new aspect platform aims to modernize the private credit market of $ 200 billion of Brazil by offering traceability of the end to end life cycle, storage of compliant metadata and real -time updates for investors and regulators.
The firm establishes that the system integrates both the recording in the chain and the redundancy outside the chain, thus linking the regulated financial infrastructure of Brazil with blockchain rails.
“We are allowing the operating events to register in the most granular way possible, ensuring traceability and transparency … approaching real time,” said Gabriel Braga, director of Digital Assets of Vert.
The low -cost and high efficiency consensus design of the XRPL, together with its EVM compatibility, allowed the automation and auditability of intelligent contracts. Foreign investors, said Braga, have increasingly demanded this level of operational transparency.
The announcement marks another step in the RWA Business Strategy of Ripple, which has focused on the use of the Book Mayor XRP to support real world assets in global credit markets.
“The agribusiness plays an essential role in the economy of Brazil, and improving how credit is structured and tracking in this sector is a significant advance,” said Silvio Pugado, manager director of Latam de Ripple, in the statement.
