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BlockBR to tokenize four tons of gold; sale will be abroad

BlockBR will tokenize four tons of gold from a mining client of the Nexxees Group, which last March announced investment in the tokenizer. The structuring of the tokens will be in Brazil, Europe and Dubai and in phases. The estimate is that sales will total R$1.3 billion. The name of the mining company was not disclosed.

Sales will be in Dubai and Switzerland in a private or public offering. Therefore, the commercialization cannot be for Brazilian citizens at this first moment, according to BlockBR. According to Cássio Krupinsk, CEO of BlockBR, the operation will be “in the model of operation of super-structured tokens and utility tokens. There will be a higher discount in the first offer and a lower discount in subsequent offers. In this way, it will anticipate to the owner of the asset the extraction values and the guarantees for the investor”. The executive further stated that tokenization allows this anticipation at very low unit prices. The value of the token was also not informed.

The Nexxees Group is one of the largest financial technology groups in the country. When he announced the investment in BlockBr, he also said he was transferring R$1 billion in receivables for tokenization by the fintech. In total, Nexxes processes about R$ 3.6 trillion a year in receivables transactions. One of the goals with the acquisition is to identify potential customer assets to turn into tokens.

BlockBr was created in November 2021.

Source: Blocknews

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