Brazilian securitization firm VERT has rolled out a blockchain-powered private credit platform on the XRP Ledger, debuting with a R$700 million ($130 million) issuance of an Agribusiness Receivables Certificate (CRA).
Key Takeaways:
- VERT launched a blockchain-based credit platform on the XRP Ledger with a $130M tokenized certificate.
- The system enables real-time, on-chain tracking of loan events, cash flows, and payments.
- VERT aims to bring transparency and traceability to Brazil’s $200B private credit market.
The CRA, a common financial instrument in Brazil’s agricultural sector, was recorded on-chain using the XRP Ledger and its Ethereum Virtual Machine (EVM)-compatible sidechain, according to a company announcement.
The integration allows for granular, real-time tracking of payments, loan terms, and cash flow events throughout the asset’s lifecycle.
VERT Targets Brazil’s $200B Private Credit Market with Blockchain Transparency
VERT’s platform seeks to modernize Brazil’s $200 billion private credit market by offering full-cycle traceability, compliant metadata, and transparency for both investors and regulators.
The system blends blockchain transparency with the resilience of off-chain infrastructure, aiming to bridge traditional finance and decentralized networks.
“We are enabling operation events to be recorded in the most granular way possible, ensuring traceability and transparency… approaching real time,” said Gabriel Braga, Director of Digital Assets at VERT.
The XRPL’s cost-efficient consensus mechanism and smart contract support through its EVM sidechain played a key role in the project’s development.
Braga added that foreign investors are increasingly seeking greater visibility into how credit assets are structured and managed.
Ripple’s LATAM Managing Director Silvio Pegado emphasized the significance of the agricultural sector in Brazil and welcomed the initiative as a meaningful step toward better credit management.
“This milestone demonstrates how blockchain technology, through the XRP Ledger, can serve as reliable infrastructure for modernizing financial markets that are foundational to national growth.”
XRP Perpetual Futures Open Interest Hits Record $8.8B
XRP saw a spike in notional open interest for its perpetual futures contracts last week.
Notional open interest, the total value of leveraged positions held by traders, climbed to an all-time high of $8.8 billion, according to CoinGlass.
The figure corresponds to nearly 2.9 billion XRP in open contracts.
The previous record for XRP notional open interest stood at $8.3 billion, which was hit in late January before the start of former U.S. President Donald Trump’s second term.
Across most venues, XRP’s funding rate was positive and climbing, signaling a market where longs are willing to pay shorts to maintain positions, a classic indicator of bullish sentiment.
As reported, the number of wallets holding at least 1 million XRP tokens has also surged to an all-time high.
Data shows that wallets holding 1 million or more XRP collectively control over 47.32 billion tokens.
Last month, Ripple CEO Brad Garlinghouse revealed the company plans to withdraw its cross-appeal against the SEC, adding that the regulator is also expected to drop its own appeal.
The announcement followed a US district court decision rejecting a joint request from Ripple and the SEC to reduce Ripple’s $125 million civil penalty and overturn the ruling that classified Ripple’s institutional XRP sales as securities transactions.
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