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  • Brazilian fintech closes partnership to tokenize R$1 billion in receivables

Brazilian fintech closes partnership to tokenize R$1 billion in receivables

With the rise of the digital asset market, the tokenization movement is gaining momentum in different sectors. In this way, BlockBR, a Brazilian fintech specialized in asset tokenization, seeks its international expansion and the creation of new technologies that can leverage and further democratize this market.

The project was supported by Nexxera , from the Nexxees group. The holding company is the largest integrator and processor of financial and mercantile services in Brazil and, with its large volume of transaction processing per year, will take more than BRL 1 billion in receivables to be tokenized in the coming months by BlockBR.

“It is in our DNA to be aligned and to be a precursor of the future for our customers and partners. We understand that tokenization of assets, such as receivables, is the next era of financial and mercantile processes in the world. We are very pleased to announce the investment in BlockBR and we believe that together we will bring the future even closer”, commented Edson Silva, president of Nexxees Group.

With the investment, BlockBR will expand its workforce, invest in marketing and its international expansion, in addition to accelerating two new technologies, according to a statement. The intention is to create a path for the market that wants to tokenize its assets, including financial and commercial ones, integrating its customer base and identifying other tokenizable assets in them.

For this, the fintech will create routines and processes so that investors from the traditional market can migrate to the digital asset market, understanding the guarantees and ties that tokens must have within their structuring and offerings.

“It is very gratifying to be part of the vanguard of tokenization in our country, I believe it is a big step for the future of the financial market as a whole. This movement represents a growth and maturation of the market, presenting a volume of relevant transactions, but it is still just the beginning of what will be a great story”, said Cassio José Krupinsk, CEO and founder of BlockBR.

Source: Exam

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