The financial consulting firm VERT Capital in Brazil has taken the country’s digital finance to a new level by implementing blockchain technology in its payment system. By digitizing public pension payments into tokens on the secure XRP Ledger system, VERT has brought innovation and efficiency to the financial sector.
VERT Introduces $40 Million Tokenized Assets
Ripple recently announced that VERT has successfully completed its second on-chain issuance, bringing $40 million worth of tokenized assets onto the blockchain. This figure is expected to increase to $190 million in the future. The initiative aims to enhance financial transparency and modernize the industry in Brazil while ensuring investor protection through strict regulations.
By utilizing the Ripple XRP blockchain and EVM sidechain, VERT is able to digitally record all relevant information and transactions related to the funds in real-time. This not only ensures compliance with Brazil’s financial laws but also enhances transparency for investors. The efficiency and security of Ripple’s cross-border payment system have attracted the interest of several Brazilian firms, including Mercado Bitcoin and Unicâmbio.
Gabriel Braga, VERT’s Director of Digital Assets, emphasized that the fusion of blockchain technology with finance has transformed traditional financial assets into fully digital entities. He highlighted the advantages of traceability, compliance, and programmability in creating a more efficient and supervised capital market.
VERT has partnered with BYX to manage and analyze the pension-backed assets, with plans to launch more tokenized funds using blockchain technology in the future.
Future Prospects
Building on their collaboration, VERT and Ripple are actively participating in Brazil’s Securities and Exchange Commission (CVM) LEAP program to explore the potential of blockchain in regulated markets. Their objective is to demonstrate how blockchain technology can streamline the trading of securities, reduce supervision costs, and enhance the connectivity of financial systems.
Silvio Pegado, Ripple’s Managing Director for Latin America, commended Brazil for showcasing the effectiveness and safety of an on-chain financial system in real-world markets. He emphasized the importance of compliance-ready infrastructure and practical applications like VERT’s tokenized credit platform in setting a global standard for on-chain finance.
