VERT Launches Blockchain Platform on XRPL for $130M Deal
VERT debuts its blockchain platform on XRPL with a $130M private credit deal, revolutionizing Brazil’s finance sector.
- VERT launches blockchain platform on XRPL for credit operations
- First transaction: $130M CRA issuance successfully executed
- Aimed at improving transparency in private credit markets
Brazil’s leading fund management company, VERT, has entered the blockchain space with a major move. The firm has launched a blockchain-based platform on the XRP Ledger (XRPL), aimed at revolutionizing how private credit operations are managed. The platform is designed to enhance transparency, efficiency, and trust in the financial sector — a much-needed step in a market that often relies on legacy systems.
The highlight of this launch is the issuance of a CRA (Certificado de Recebíveis do Agronegócio) — a financial security tied to agribusiness receivables — valued at $130 million. This marks the first-ever transaction executed through VERT’s newly developed blockchain system.
Why XRPL?
The choice of XRPL is strategic. XRP Ledger is known for its low transaction costs, speed, and eco-friendly consensus mechanism, making it a preferred option for financial institutions. By leveraging XRPL, VERT ensures the platform is scalable and secure, meeting both investor and regulatory standards in Brazil.
This step positions VERT as a blockchain pioneer among Brazil’s traditional financial institutions, as it seeks to modernize the often opaque and complex private credit market.
Implications for Brazil’s Financial Sector
With this move, VERT is not only streamlining internal operations but also setting an example for other asset managers and credit institutions in Latin America. Blockchain technology offers real-time auditing, reduced paperwork, and improved accessibility for investors, which could open the door to greater liquidity and trust in Brazil’s credit markets.
If successful, this platform could lead to broader adoption of blockchain in Brazilian finance, particularly in sectors like agribusiness and structured credit, where efficiency and traceability are critical.
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