Brazilian investment firm VERT has announced a new solution aimed at tokenizing private credit operations using XRP Ledger. This development occurs amid a growing interest in asset tokenization in the global financial market.
Significance of VERT's Initiative
VERT aims to develop a blockchain-based platform on XRP Ledger for the issuance and management of private credit operations. This is significant in light of the increasing demand for tokenized assets among major financial institutions. The first step will be the issuance of an Agribusiness Receivables Certificate, which will be regulated and managed across this sector of Brazil's economy.
CITE_W_A: "Agribusiness plays an essential role in Brazil’s economy, and improving how credit is structured and tracked in this sector is a meaningful advancement," said Silvio Pegado, managing director of Ripple in Latin America.
Tokenization on XRP Ledger: Current Projects
XRP Ledger showcases its capabilities as a tokenization platform, demonstrating growth in tokenized assets by over 2,260% in the past six months. Notably, Mercado Bitcoin announced plans to tokenize over $200 million in real-world assets on this platform. Guggenheim Capital and many other companies are also implementing tokenized solutions based on XRP Ledger, reinforcing the viability and promise of this technology.
The Future of Tokenized Assets in Brazil
VERT's project will contribute to increasing the value of tokenized assets in Brazil. The company aims to raise $500 million, which will enhance operational efficiency, transparency, and accessibility of credit products. The integration of Ripple's Ethereum-compatible XRPL EVM Sidechain will enable VERT to utilize smart contracts for process automation.
VERT's initiative on XRP Ledger highlights the growing interest in tokenization in Brazil and creates new opportunities for capital markets. The project promises not only revolutionary changes in credit management but also significant benefits for the economy.
