Tokenization of Brazilian Credit Card Receivables, Plume and Others Launch New Platform

The Plume Network has initiated the tokenization of Brazilian credit card receivables through the Gemstone platform developed by Black Opal. In Brazil, it often takes several months for merchants to receive payments from credit card transactions. The Gemstone platform purchases these receivables at a discounted price and provides merchants with approximately 95% of the funds immediately. The purchased receivables are tokenized on the blockchain and sold to institutional investors. Once the full payment is settled by Visa or MasterCard, the tokens are redeemed at face value. Investors...