Plume Network and Brazil's Mercado Bitcoin to tokenize $40 million worth of RWAs
Quick Take
- RWA firm Plume Network and Mercado Bitcoin have partnered as part of a plan to tokenize $40 million worth of Brazilian “asset-backed securities, consumer credit, corporate debt, and accounts receivable,” according to a statement.
- Mercado Bitcoin will use Plume Network’s infrastructure and Layer 1 blockchain, enabling the Latin American trading platform to offer customers from around the world the chance to invest in tokenized Brazilian assets.
Real world asset startup Plume Network has partnered with Latin American trading platform Mercado Bitcoin as part of a plan to tokenize $40 million worth of Brazilian "asset-backed securities, consumer credit, corporate debt, and accounts receivable," according to a statement released Wednesday.
"The initiative creates a direct bridge between global capital and emerging market investments, providing users direct access to yield opportunities in Brazil, Latin America's largest economy," the two companies said in their statement.
Mercado Bitcoin plans to leverage Plume Network's infrastructure and Layer 1 blockchain, allowing the crypto exchange to offer customers worldwide the opportunity to invest in tokenized Brazilian assets.
Led by the asset classes of government securities and commodities, the overall tokenized RWA market has been steadily growing, nearly doubling over the past 12 months, according to The Block Data Dashboard. This week, the DeFi platform supported by U.S. President Donald Trump, World Liberty Financial, partnered with real-world asset tokenization firm Ondo Finance in hopes of advancing the adoption of RWAs.
According to the statement, Mercado Bitcoin has 4 million users. Brazil, thanks to its large population, economy and widespread adoption of digital payments, is considered a strong growth market for digital assets.
"On one hand, we’re providing small and medium-sized businesses ... with a direct path to funding through tokenization," Mercado Bitcoin's New Business Development SVP Fabrico Tota said in a statement. "On the other hand, we’re empowering local and global investors with access to innovative financial instruments that were once out of reach."
Plume Network has been actively adding to its portfolio of real-world assets since raising $10 million last year in a seed funding round led by Haun Ventures. The startup then closed a $20 million Series A funding round, which included the participation of Brevan Howard Digital, Galaxy Ventures and Haun Ventures. Plume Network was originally meant to be a Layer 2 on Arbitrum Orbit, according to a spokesperson.
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