Mercado Bitcoin taps Plume to tokenize Brazilian assets

Real-world asset (RWA) firm Plume Network joined forces with Latin America’s largest crypto exchange, Mercado Bitcoin, to tokenize $40 million worth of Brazilian financial instruments.

The partnership covers asset-backed securities, consumer credit, corporate debt, and accounts receivable to provide global investors with access to emerging market opportunities in Brazil, the region’s largest economy.

With a user base of four million, Mercado Bitcoin sees Brazil’s large economy and widespread digital payment adoption as a prime environment for tokenized financial products.

“We’re giving small and medium-sized businesses direct access to funding through tokenization while also providing investors with opportunities that were previously out of reach,” said Fabrico Tota, Mercado Bitcoin’s SVP of New Business Development.

Plume Network has been actively expanding its RWA portfolio since securing $10 million in seed funding last year, followed by a $20 million Series A round with backing from Brevan Howard Digital, Galaxy Ventures, and Haun Ventures. Originally planned as a Layer 2 solution on Arbitrum Orbit, Plume has pivoted to developing its own Layer 1 blockchain.