Team Ripple
Brazil’s financial system is entering a new era of modernization, one powered by transparent and compliant blockchain-based infrastructure.
Just three months after launching its first on-chain structured credit platform on the XRP Ledger (XRPL) and XRPL EVM Sidechain, VERT Capital has completed its second tokenized transaction in partnership with Ripple. The new issuance expands the platform’s scope and brings a new class of regulated credit on-chain, showing that tokenization in Brazil is no longer an experiment, but an emerging market reality.
VERT’s latest operation represents Brazil’s first tokenized FIDC backed by public-pension receivables (INSS), a highly diversified, low-risk asset class tied to government pension payments. In Brazil, FIDCs are investment funds that bundle credit receivables into regulated financial products—similar to asset-backed securities—offering investors exposure to diversified income streams. Each receivable reflects a portion of monthly pension obligations owed by the federal government to retirees, providing investors with predictable, government-backed cash flows. Each receivable reflects a portion of monthly pension obligations owed by the federal government to retirees, providing investors with predictable, government-backed cash flows.
The fund currently holds more than BRL 200 million (~USD 40 million) in net assets and is expected to scale to BRL 1 billion (~USD 190 million) as institutional demand grows. The structure was developed with fintech partner BYX, which provides the analytical and technological backbone for managing pension-backed receivable portfolios. Together, the two firms plan to tokenize additional funds before year-end, further linking traditional credit origination with blockchain-based management and settlement.
Using the XRPL and its EVM Sidechain, VERT’s digital-credit platform records lifecycle events, documentation, and payments directly on-chain, enabling near-real-time auditability while complying fully with Brazilian securities regulations.
This second operation also introduces VERT Sign, a blockchain-based formalization and document-signing solution built on the XRPL EVM Sidechain. VERT Sign uses verifiable digital signatures and wallet-based execution to automate recurring receivables purchases securely, reducing manual intervention and operational risk.
“By bringing structured credit funds on-chain and automating key contractual processes, we are moving closer to a world where tokenized financial instruments are not just digital representations, but the assets themselves,” said Gabriel Braga, Director of Digital Assets at VERT. “This combination of traceability, compliance, and programmability lays the groundwork for a more efficient and supervised capital market.”
The collaboration between VERT and Ripple continues to show how public blockchain infrastructure can meet regulated-market standards. Both firms are now participating in the CVM’s LEAP program, a regulatory research initiative from Brazil’s Securities and Exchange Commission.
Through LEAP, VERT and Ripple aim to demonstrate how the XRPL’s native DEX can serve as shared infrastructure for secondary trading of crowdfunding securities, promoting interoperability between platforms, lowering supervisory costs, and enabling a more open, connected financial market.
“Brazil is proving that regulation and innovation can go hand in hand,” said Silvio Pegado, Managing Director, LATAM at Ripple. “By combining compliance-ready infrastructure with real-world use cases like VERT’s tokenized credit platform, the region is setting a global example for how on-chain finance can work in practice.”
VERT’s journey illustrates how quickly blockchain adoption can accelerate once the right foundations are in place. In less than a year, the firm has tokenized hundreds of millions of reals in structured credit, connecting institutional investors to transparent, programmable, and compliant financial instruments on-chain.
Over its nine years of operation, VERT has executed more than 390 structured-credit deals, totaling approximately BRL 104 billion issued and BRL 69 billion under management, a record that underscores how regulated finance and blockchain innovation are beginning to converge.
As Brazil advances toward a fully digital financial ecosystem, partnerships like VERT + Ripple are showing what that future looks like: open, interoperable, and built on trust.
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