This article is from www.blocknews.com.br and the original article can be read here in Portuguese
BlockBR will tokenize four tons of gold from a mining company client of Nexxees Group, which last March announced an investment in the tokenizer. The structuring of the tokens will be in Brazil, Europe and Dubai and in phases. It is estimated that sales will total R$ 1.3 billion. The name of the mining company was not revealed.
Sales will be in Dubai and Switzerland in a private or public offering. Therefore, the commercialization cannot be for Brazilian citizens at this first moment, according to BlockBR. According to Cássio Krupinsk, CEO of BlockBR, the operation will be “in the operating model of superstructured tokens and utility tokens. There will be a higher discount on the first offer and a lower discount on subsequent offers. In this way, the asset owner will anticipate the extraction values and guarantees for the investor”. The executive further stated that tokenization allows this anticipation at very low unit prices. The token value was also not informed.
The Nexxees Group is one of the largest financial technology companies in the country. When they announced the investment in BlockBr, they also said that they were transferring R$1 billion in receivables for tokenization by the fintech. In total, Nexxes processes around R＄3.6 trillion a year in receivables transactions. One of the goals with the acquisition is to identify potential customer assets to turn into tokens.
BlockBr was created in November 2021.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. EmeringCrypto.io does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.