Mercado Bitcoin (MB), the largest digital assets platform in Latin America, announces in partnership with Prata Digital, a fintech specializing in personal credit issuance, the structuring of the first Digital Fixed Income Token (RFD) backed by FGTS payroll deduction bonds in the birthday withdrawal modality. The assets were issued by QI Tech, a fintech infrastructure company for financial services. The operation totals R$50 million and its commercialization was divided into tranches.
MB Corporate's expertise, the MB ecosystem area specialized in tokenization, was used to structure the product, while Digital Silver is responsible for credit origination. The profitability of token-holders will be linked to the anticipation of the FGTS for the birthday withdrawal. Thus, the asset revolutionizes the investment universe through tokenization: in the traditional market, only large banks or FIDC managers have access to these investments. Now, the reach expands to retail.
QI Tech acted as the banking partner for the CCBs for the end customers of Prata Digital. She is responsible for granting credit, given her SCD (Direct Credit Society) license, to end customers who wish to advance their accumulated FGTS resources. Recently, the company received an A+(bra) rating from Fitch, in addition to becoming Brazil's first unicorn of 2024.
Among the product features are CDI + 1.5% yield and a term of 77 months. The token can be purchased starting from R$ 100.00. Being included in the RFD modality, the return potential is over 14% per year. It is worth noting that the FGTS constitutes a set of assets that has already moved more than R$1 trillion in resources over six years and five months.
“In a very short time, we have put together an unprecedented product that allows retail investors to participate in anniversary withdrawal consignment receivables,” says Reinaldo Rabelo, CEO of MB.
“MB has increasingly established itself as a complementary player to other credit structurers. While the market is more accustomed to looking at corporate debt, MB Corporate has specialized in recent years in offering individual clients, or 'flesh and blood' as we like to joke here, structured and dispersed credits with a very advantageous risk/return profile. These products usually remain in the portfolio of bank treasuries or FIDCs, with little access to retail and less attractive conditions than ours,” adds Alexandre Reda, head of structuring and products at MB Corporate.
Digital Silver is one of the leading FGTS credit originators in Brazil and, in 2020, was one of the pioneers in the birthday withdrawal payroll loan, expanding the usability of the Guarantee Fund. Currently, the company is a leader in origination in this modality, with a volume of R$1.2 billion, a total considered a record in the market.
“When we analyze the percentages of use of the anniversary withdrawal, more than 60% of the advances were transferred to financial institutions. Working together with MB allowed us to democratize this market through Digital Fixed Income, in order to align profitability and security for the investor, in addition to diversifying the portfolio. And this is just the beginning,” says Eduardo Mauro Prates, CEO of Prata Digital.
The asset structuring was completed in just 45 days, a process that without the use of Web3 could take up to four months. The operation was completed on Saturday (August 17), highlighting the efficiency and agility of blockchain technology, decentralized and operating 24/7, brought to the market.
Bitcoin Market and B2B Tokenization
The partnership with Prata Digital is part of MB's strategy to expand its B2B presence through the tokenization of corporate assets, in order to facilitate access to the capital market.
To occupy segments “underserved” by the Brazilian private credit market, mainly for transactions of up to R$100 million, MB has a strategic approach carried out through blockchain technology.
Making operations more efficient and economical, tokenization allows MB to reduce the time to raise funds by up to three times when compared to the traditional market.
