tl;dr
Brazilian securitization firm VERT has launched a blockchain-based private credit platform on the XRP Ledger (XRPL) and its Ethereum-compatible EVM sidechain, debuting with a 700 million Brazilian real (about $130 million) issuance of an Agribusiness Receivables Certificate (CRA). This platform enab...
The CRA, a crucial financial instrument bundling future cash flows from Brazil’s agricultural sector, has been recorded on-chain using the XRP Ledger (XRPL) and its Ethereum-compatible EVM sidechain. This innovative step comes from Brazilian securitization firm VERT, which has launched a blockchain-based private credit platform on the XRPL, debuting with a Brazilian real 700 million (around $130 million) issuance of an Agribusiness Receivables Certificate (CRA).
By utilizing the XRPL and its EVM sidechain, VERT’s platform enables real-time tracking of cash flows, loan events, and payments, offering investors and regulators unprecedented transparency and efficiency. This modern approach aims to revolutionize Brazil’s $200 billion private credit market with end-to-end lifecycle traceability and compliant metadata storage. The system bridges traditional financial infrastructure with blockchain technology by integrating on-chain recording with off-chain redundancy.
Gabriel Braga, VERT’s Director of Digital Assets, emphasizes the platform's capacity to record operation events in a highly granular manner, ensuring transparency and near real-time data updates. The XRPL’s low-cost, high-efficiency consensus combined with EVM compatibility facilitates smart contract automation and auditability. This level of operational transparency meets growing demands from foreign investors seeking trustworthy blockchain solutions.
This initiative aligns with Ripple’s broader enterprise strategy to leverage the XRP Ledger to tokenize real-world assets and support global credit markets. Ripple LATAM Managing Director Silvio Pegado highlights the significance of agribusiness in Brazil’s economy and recognizes the advancement that improved credit structuring and tracking will bring to this vital sector.