BlackOpal launches GemStone, a tokenized Brazilian credit card receivables product backed by $200 million in anchor financing from Mars Capital Advisors and deployed on the Plume Network. The product targets Brazil's $100 billion credit card financing market by purchasing receivables through "True Sale" transactions, offering returns to institutional investors. The ownership of these receivables has been registered with the Central Bank of Brazil, thereby eliminating the traditional merchant credit risk associated with settlement through Visa and Mastercard.
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BlackOpal launches GemStone, a tokenized Brazilian credit card receivables product backed by $200 million in anchor financing from Mars Capital Advisors and deployed on the Plume Network. The product targets Brazil's $100 billion credit card financing market by purchasing receivables through "True Sale" transactions, offering returns to institutional investors. The ownership of these receivables has been registered with the Central Bank of Brazil, thereby eliminating the traditional merchant credit risk associated with settlement through Visa and Mastercard.