Brazil's VERT launches private credit solutions on the XRP Ledger

According to CoinWorld news, the capital market company VERT, headquartered in Brazil, has joined the growing ranks of companies looking to leverage tokenization through new solutions on the XRP Ledger. This move by the fund management company comes as Wall Street giants like Goldman Sachs, BNY, and JPMorgan are rushing into the tokenized asset market, which has already attracted a variety of products from fund giants such as BlackRock, Fidelity, and Franklin Templeton. The XRP Ledger is supported by XRP ( XRP ) tokens. VERT's blockchain-based platform on XRPL will focus on the issuance and management of private credit business. Ripple is expanding its influence in Latin America through this initiative. According to details, the on-chain joint venture is launching by issuing agricultural comprehensive enterprise receivable certificates. RCA is a regulated credit instrument managed in an industry that accounts for over 20% of Brazil's GDP. "Agricultural comprehensive enterprises play a crucial role in the Brazilian economy, and improving the construction and tracking of credit in this industry is a meaningful advancement," said Silvio Pegado, Managing Director of Ripple Latin America. The first CRA transaction will be valued at 700 million Brazilian Reais, approximately 130 million USD. Token Relations recently revealed that the total tokenized real-world assets on XRPL grew by over 2260% in six months, rising from 5 million USD at the beginning of the year to over 118 million USD by early July. Mercado Bitcoin, Latin America's largest cryptocurrency exchange and alternative asset investment platform, announced on July 4th that it would bring over 200 million USD in tokenized RWAs to XRPL. The assets planned for tokenization on the blockchain include fixed income and equity instruments. Guggenheim Capital is also utilizing the XRP Ledger. Its subsidiary, Guggenheim Treasury Services, issued digital commercial paper backed by US Treasury bonds on the Ripple blockchain platform. In June, the tokenized asset platform Ondo Finance also launched its short-term government bond OUSG, while Circle added the native USDC ( USDC ) to the XRP Ledger. VERT's initiative will enhance this appeal as it aids in the onboarding of Brazil's capital market. The company's goal is to generate 500 million USD in on-chain value. Benefits will include increased operational efficiency, transparency, and accessibility. In addition to issuing private credit on XRPL, VERT is also integrating Ripple's Ethereum-compatible protocol XRPL EVM Sidechain to utilize features such as programmable automation through smart contracts.