Vert, a Brazilian titulization administrator and funds, said Wednesday that he debuted a blockchain -based platform to handle private credit transactions in the Book Mayor XRP (XRP) and its side chain compatible with Ethereum, which carries real -world real -world assets to the ecosystem.
The first transaction of the platform was the issuance of a 700 million BRL, or $ 130 million, the certificate of accounts receivable (CRA) of $ 130 million, a regulated instrument used to finance agricultural production, according to a press release.
CRA groups future cash flows due to agribusiness, such as loan reimbursements for investors. Agriculture represents more than 20% of Brazil’s GDP, which makes the sector a key test for digital financial tools.
The issuance underlines the accelerated trend of real world assets (RWA), using blockchain rails to handle transactions with traditional financial instruments such as bonds, credit and funds. The process promises faster and more efficient settlements and broader access to investors compared to traditional bank channels, especially in emerging economies with less developed capital markets.
The role of XRP Ledger as an RWA Tokenizo Center has been growing, with Dubai selecting the network for its ambitious real estate tokenization plan to put $ 16 billion of property deeds on the chain by 2033.
When registering the emission and life cycle events of the asset directly in the chain, Vert said that its system improves transparency and traceability for structured credit operations. The platform is integrated with the regulated financial infrastructure of Brazil and uses the redundancy outside the chain to comply with compliance standards, the firm said.
“It is a concrete step towards the evolution of tokenization as a structural pillar of the modern capital market,” said Gabriel Braga, director of Digital Assets of Vert, in a statement. “Tokenization also addresses the demand for greater transparency of operations, which comes mainly from foreign investors.”
Ripple, a key taxpayer to the Book Mayor XRP, also contributed to the project.
“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, managing director of Ripple of the Latin America region.
“This milestone demonstrates how Blockchain technology, through the Book Mayor XRP, can serve as a reliable infrastructure to modernize financial markets that are fundamental for national growth.”
Vert said that future plans include expanding the platform to additional asset classes and structured credit agreements worth more than $ 500 million.
Read more: Finance shares supported the volume of the product of the products jumps to $ 300 million
