Vórtx QR Tokenizadora, the first CVM-regulated tokenization platform in Brazil, began operations on June 1st with the announcement that the Itaú was responsible for coordinating the first issue of tokenized debentures in the country.
formed by joint venture between the Vortx, fintech with more than half a trillion reais in assets Vórtx QR Tokenizadora created a project to incorporate blockchain technology in intermediation activities for public offerings for securities on its platform and Qr Capital, a holding company in the area of blockchain and cryptoassets, Vórtx QR Tokenizadora created a project to incorporate blockchain technology.
“The platform brings to the market the process of tokenization via blockchain of assets, with greater disintermediation in the process of buying and selling between investors with a high level of security. Tokenizadora opens this operation present in other industries with the great differential of respecting the regulatory Vortx framework. It is a necessary evolution for the capital market”.
– said Thiago Shober, Head of New Business at Vórtx QR Tokenziadora.
To participate in the project, Itaú was selected as the first of twelve asset-issuing institutions. As a result, Latin America’s largest bank became the first bank to coordinate a tokenized debenture issue.
“This operation, in addition to being innovative, is a milestone for the capital market, as it materializes the entire digital transformation process that the financial world is going through. Tokenization brings numerous opportunities for diversification and product offering, while allowing investors to have broader access to financial assets, a move that we value here.”
– says Caio Viggiano, Managing Director of Fixed Income at Itaú BBA.
After the issuance of Itaú, QR Rispar Crédito will be the second issuer and with this it will become the first tokenized regulated fund in the country, working with the first Bank Credit Notes (CCBs) guaranteed by bitcoin.
Brazilian technology even on the blockchain
The project still draws attention for containing its technological structure in blockchain created by Brazilians. This is because the issuance will be made on the Hathor blockchain, a ledger capable of processing 200 transactions per second and created to reduce technological implementation barriers for companies and end users.
“This process started more than a year ago and involved a careful evaluation of the network by the CVM, which demonstrates how Hathor’s technology is capable of supporting projects of different sizes. Few networks in the world are authorized to run a regulated financial product like Vórtx QR Tokenizadora and Hathor Network becomes a pioneer in the blockchain market”
– said Yan Martins, CEO of Hathor Labs.
The launch of the platform is a milestone for the Brazilian financial market, seen as one of the most advanced in the world and which will now also feature the security and accessibility that cryptographic technologies using blockchain can provide.
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