Brazilian securitization company VERT launches Private Credit Platform on the XRP Ledger

BlockBeats News, July 24th, according to CoinDesk, Brazilian securitization company VERT has launched a blockchain-based private credit platform on the XRP Ledger and has issued the first tranche of Agricultural Receivables Certificates (CRA) worth 7 billion Brazilian reais (approximately 1.3 billion U.S. dollars).

CRA is a key financial instrument in the Brazilian agriculture sector used to package future cash flows. This issuance was done on the XRPL and its compatible Ethereum EVM sidechain, enabling real-time tracking of cash flows, loan events, and repayments.