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Tokenized Brazilian credit card debt offers 13% yield through blockchain platform
Source: CryptoNewsNet Original Title: Tokenized Brazilian credit card debt offers 13% yield through BlackOpal’s GemStone platform Original Link: Brazilian merchants, who are used to waiting months for credit card payments, could soon receive cash instantly through an initiative that allows them to sell the debt, tokenizes it and rewards the purchasers with double-digit returns in a $100 billion market for merchants desperate for working capital.
An onchain asset management and payments platform said it will buy the debt at a discount, tokenize it on its blockchain platform using the Plume Network blockchain and sell it on to institutional buyers worldwide. The platform goes live later this week.
The program spotlights tokenization’s growing uses in emerging markets, shifting beyond government bonds to unlock economic assets like credit card receivables. Brazil already boasts a thriving real estate tokenization scene and its central bank’s DREX digital currency project, making it fertile ground for products like this.