Xdc Network Leads Rwa – The First Brazilian On-Chain Dollar Linked Token Paying 9.2% a Year by Mercado Bitcoin.
30 Luglio 2024 - 6:39PM
NEWSBTC
Mercado Bitcoin (MB), the largest digital asset platform in Latin
America, has made its first on-chain sale of Digital Fixed Income
tokens on an international platform using
TradeFinex technology powered by XDC Network. This is boosting
the global Real World Asset (RWA) market, which is expected to be
worth US$ 16 trillion and account for 10% of the world’s GDP by
2030, according to estimates by the Boston Consulting Group. The
logistics company Ascensus backed the product by a RWA token and
was made available through the layer 1 blockchain XDC Network used
by TradeFinex. This is the world’s first on-chain case related to
an RWA from a Brazilian company in the international market. The
dollar-token matures in 3 months with a 9.2% yearly return – a
significantly higher percentage when compared to US treasury bonds,
which tracks the country’s interest rate of 5.25% and 5.5% per
year. “We are replicating in the international market the B2B
services and products that we already offer solidly in Brazil to
drive out this expansion,” says Roberto Dagnoni, CEO of 2TM, MB’s
parent company. “The distribution of Digital Fixed Income assets, a
product in which we are pioneers, is already widely carried out for
Brazilian clients (institutional and retail) and is accelerating in
Portugal,” he adds. MB already operates in the international market
with Mercado Bitcoin Portugal, which has issued 23 products valuing
US$ 18 million since the company was acquired by MB in 2022. The
on-chain scenario is also contributing to the international
expansion of MB, which also has representation in Germany,
highlighting the potential for international business. “We have set
up an international sales team focused on finding partners who
distribute RWA of Brazilian corporate debt worldwide. Brazil is the
country with the second highest real interest rate in the world and
therefore has a high concentration of this asset class locally.
This expansion strengthens foreign investors’ accessibility to
differentiated Brazilian products and creates a new source of
credit for national companies”, said Henrique Pocai, MB’s sales
director. For TradeFinex, this is an opportunity to showcase the
RWA tokenization capability of the XDC network. In addition, sales
took place in an automated way using smart contract technology,
with minimal manual input – which highlights the technology
involved. Any institution can create and use TradeFinex’s open
source platform by submitting their details via this form to
join this TradeFi platform’s Real World Asset RWA pool. “Brazil
plays an important role in trade finance; however, access to
international credit is a significant challenge, especially for
SMEs. This pilot project emerges as a solution to address this
issue” said Diego Consimo, Head of LATAM at XDC Network and
TradeFinex representative in Brazil. “Once more the XDC Network
stands out as a robust platform for tokenization, providing
scalable and efficient blockchain solutions that facilitate
seamless digital asset management and compliance with global
regulatory standards” he adds. From global trade finance and
payments to DePIN and RWA tokenization, XDC enables secure,
scalable, and highly efficient solutions. As the XDC Network
continues to attract major players like Deutsche Telekom who
recently started running node for XDC Network and facilitate
groundbreaking projects like Mercado Bitcoin’s on-chain token, the
demand and value of XDC are still undervalued in the current market
with a chance of exploding to a new high anytime. The current price
of XDC is $0.030393 with a market cap of $453,268,924 USD. It is 80
% lower than its all-time high of $0.193 and nearly 20000% higher
than its all-time low of $0.0001571. XDC is available on
multiple CEX and DEX including the top 10 exchanges namely Gate.io,
HTX, Bitfinex, Kucoin. Photo by Traxer on Unsplash
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