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BTCUSD Bitcoin

66,050.71
-773.35 (-1.16%)
22:16:51 - Realtime Data
Name Symbol Market Market Cap ($) Algorithm
Bitcoin BTCUSD Crypto 1,296,763,450,803 SHA-256d
  Price Change Price Change % Current Price Bid Price Offer
  -773.35 -1.16% 66,050.71 66,049.25 66,050.72
High Price Low Price Open Price Prev. Close 52 Week Range
66,995.53 65,283.68 66,733.59 66,824.06 24,900.00 - 73,835.57
Exchange Last Trade Size Trade Price Currency
GDAX 22:16:50 0.000100 66,049.21 USD
Price x Volume Volume Base Symbol Related Pairs
884,127,670.63 13,352.39 BTC BTCEUR BTCGBP ETHBTC

Xdc Network Leads Rwa – The First Brazilian On-Chain Dollar Linked Token Paying 9.2% a Year by Mercado Bitcoin.

30/07/2024 5:39pm

NEWSBTC


Mercado Bitcoin (MB), the largest digital asset platform in Latin America, has made its first on-chain sale of Digital Fixed Income tokens on an international platform using TradeFinex technology powered by XDC Network. This is boosting the global Real World Asset (RWA) market, which is expected to be worth US$ 16 trillion and account for 10% of the world’s GDP by 2030, according to estimates by the Boston Consulting Group. The logistics company Ascensus backed the product by a RWA token and was made available through the layer 1 blockchain XDC Network used by TradeFinex. This is the world’s first on-chain case related to an RWA from a Brazilian company in the international market. The dollar-token matures in 3 months with a 9.2% yearly return – a significantly higher percentage when compared to US treasury bonds, which tracks the country’s interest rate of 5.25% and 5.5% per year. “We are replicating in the international market the B2B services and products that we already offer solidly in Brazil to drive out this expansion,” says Roberto Dagnoni, CEO of 2TM, MB’s parent company. “The distribution of Digital Fixed Income assets, a product in which we are pioneers, is already widely carried out for Brazilian clients (institutional and retail) and is accelerating in Portugal,” he adds. MB already operates in the international market with Mercado Bitcoin Portugal, which has issued 23 products valuing US$ 18 million since the company was acquired by MB in 2022. The on-chain scenario is also contributing to the international expansion of MB, which also has representation in Germany, highlighting the potential for international business. “We have set up an international sales team focused on finding partners who distribute RWA of Brazilian corporate debt worldwide. Brazil is the country with the second highest real interest rate in the world and therefore has a high concentration of this asset class locally. This expansion strengthens foreign investors’ accessibility to differentiated Brazilian products and creates a new source of credit for national companies”, said Henrique Pocai, MB’s sales director. For TradeFinex, this is an opportunity to showcase the RWA tokenization capability of the XDC network. In addition, sales took place in an automated way using smart contract technology, with minimal manual input – which highlights the technology involved. Any institution can create and use TradeFinex’s open source platform by submitting their details via this form to join this TradeFi platform’s Real World Asset RWA pool. “Brazil plays an important role in trade finance; however, access to international credit is a significant challenge, especially for SMEs. This pilot project emerges as a solution to address this issue” said Diego Consimo, Head of LATAM at XDC Network and TradeFinex representative in Brazil. “Once more the XDC Network stands out as a robust platform for tokenization, providing scalable and efficient blockchain solutions that facilitate seamless digital asset management and compliance with global regulatory standards” he adds. From global trade finance and payments to DePIN and RWA tokenization, XDC enables secure, scalable, and highly efficient solutions. As the XDC Network continues to attract major players like Deutsche Telekom who recently started running node for XDC Network and facilitate groundbreaking projects like Mercado Bitcoin’s on-chain token, the demand and value of XDC are still undervalued in the current market with a chance of exploding to a new high anytime. The current price of XDC is $0.030393 with a market cap of $453,268,924 USD. It is 80 % lower than its all-time high of $0.193 and nearly 20000% higher than its all-time low of $0.0001571. XDC is available on multiple CEX and DEX including the top 10 exchanges namely Gate.io, HTX, Bitfinex, Kucoin. Photo by Traxer on Unsplash

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