- BlackOpal’s GemStone reflects a “Big Moment” in PayFi.
- Credit card merchants will receive instant cash settlements without delays.
- GemStone sets a standard for tokenized credit products.
Onchain asset management payments platform BlackOpal has launched GemStone, a tokenization solution based on the Plume Network. According to an official post on X, Plume Network described the innovation as a “Big Moment” in PayFi.
A Standard for Tokenized Credit Products
Plume co-founder and CBO Teddy Pornprinya described GemStone as a reflection of what Real World Assets should be. According to Pornprinya, the solution will enable institutional-grade yield, transparent structure, and global accessibility. He noted that the latest move by BlackOpal sets the standard for what tokenized credit products can achieve.
The newly launched solution will allow Brazilian merchants to receive cash instantly through an initiative that allows them to sell debt, tokenize it, and reward purchasers. According to reports, the process involves BlackOpal buying the debt at a discount, tokenizing it on the newly launched GemStone platform using the Plume Network blockchain, and selling it to institutional buyers worldwide.
A Spotlight on the Use of Tokenization
Analysts consider the program a spotlight in the use of tokenization in emerging markets, disrupting the traditional process that government bonds have dominated, while unlocking assets such as credit card receivables. Meanwhile, launching the product in Brazil will boost the region’s thriving real estate tokenization sector, alongside its Central Bank’s DREX digital currency project.
Typically, in Brazil, the existing system involves extended delays, with up to 70% of customers paying in up to 12 monthly installments, stalling value delivery to merchants. Exploring this system, GemStone will buy the receivables at a discount, with ownership locked in Brazil’s Central Bank C3 Registry.
GemStone’s Effect on the Crypto Industry
This innovation highlights the growing implementation of blockchain and cryptocurrency solutions in the mainstream, triggering a boost in the technology’s adoption. Data from CoinMarketCap reveals that PLUME surged nearly 5% following the latest announcement, before retracing amid a general decline in the crypto market. However, the cryptocurrency bounced off support and was trading at $0.0172 at the time of writing.
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Source: https://coinedition.com/gemstone-blackopals-tokenization-solution-hits-plume-network/
