VERT, a leading capital markets firm in Brazil, is making headlines by joining the rapidly growing wave of financial institutions embracing blockchain technology. The firm has unveiled a blockchain-powered platform built on the XRP Ledger (XRPL), focusing on the issuance and management of private credit. This move positions VERT alongside major global financial players such as Goldman Sachs, JPMorgan, and BNY Mellon, who are also diving deep into the tokenized assets space, already populated by titans like BlackRock, Fidelity, and Franklin Templeton.
The XRP Ledger, fueled by the native
$XRP token, serves as the backbone of VERTโs initiative, marking a significant step in Rippleโs ongoing expansion across Latin America. The launch begins with the issuance of an Agribusiness Receivables Certificate (CRA), a regulated financial instrument vital to Brazil's agricultural sectorโan industry contributing over 20% to the nationโs GDP.
โEnhancing how credit is structured and monitored in Brazilโs agribusiness sector is a major leap forward,โ said Silvio Pegado, Rippleโs managing director for Latin America. The initial CRA issuance will be worth around 700 million Brazilian reals (approximately $130 million USD).
This development aligns with a broader surge in tokenized real-world assets (RWAs) on the XRPL. According to Token Relations, the total value of tokenized RWAs on the ledger has skyrocketed by over 2,260% in just six monthsโfrom $5 million at the start of the year to more than $118 million as of early July.
Adding further momentum, Mercado BitcoinโLatin Americaโs largest crypto exchangeโannounced plans to tokenize over $200 million worth of assets on the XRPL, including equity and fixed-income products. Meanwhile, Guggenheim Treasury Services, a division of Guggenheim Capital, has issued digital commercial paper backed by U.S. Treasuries using Rippleโs blockchain infrastructure.
June also brought significant developments: Ondo Finance introduced its OUSG tokenized Treasury product, and Circle launched native USDC stablecoin integration on the XRPL.
VERTโs entry into this ecosystem not only enhances Brazilโs digital finance infrastructure but also aims to onboard $500 million worth of value to the blockchain. The initiative promises improved transparency, efficiency, and broader access to capital markets. Additionally, VERT is adopting Rippleโs EVM-compatible XRPL Sidechain, unlocking smart contract functionality for automation and advanced financial operations.
As the tokenization of traditional assets continues to gain global traction, VERTโs venture reinforces Brazilโs emerging leadership in bringing capital markets on-chain.
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