BlackOpal launches GemStone to encrypt credit card receivables in Brazil.

The on-chain asset management platform BlackOpal has launched GemStone, an initiative to tokenize credit card receivables in Brazil, aiming to provide instant liquidity for businesses and attractive yields for investors. The product targets the real-world asset segment (RWA) on a large scale but currently lacks participation from institutional capital.

GemStone offers an annual yield of approximately 13%, denominated in USD, with a foreign exchange hedging mechanism to help reduce currency volatility and inflation risks in emerging markets. The project is built on Plume Network, a blockchain dedicated to tokenizing RWA, with a committed investment of $200 million USD over three years from Mars Capital Advisors (Switzerland).

In Brazil, businesses often have to wait several months to receive funds from card transactions. GemStone allows the sale of receivables to receive cash immediately, improving cash flow. For investors, the asset is rated investment grade (Baa2) and protected by a direct repayment deduction mechanism from major partners such as banks, Visa, and Mastercard, significantly reducing default risk.