Plume Network, in partnership with financing company BlackOpal, has launched GemStone, a product that tokenizes Brazilian credit card receivables on-chain. This institutional-grade real-world asset (RWA) infrastructure allows merchants to sell their future credit card payments to BlackOpal through a true sale mechanism, receiving approximately 95% of the value upfront for immediate liquidity. The tokenized receivables are then settled in full via Visa or Mastercard networks when the payments clear.
The GemStone tokens are issued in US dollars and include built-in foreign exchange hedging to protect investors from fluctuations in the Brazilian real. Legally, the receivables are registered with the Central Bank of Brazil, ensuring clear ownership documentation. This structure is designed to mitigate the credit risk typically associated with lending to smaller businesses, as payments are routed directly through the major card networks rather than being dependent on individual merchant solvency.
The launch is backed by a significant institutional commitment. Swiss investment firm Mars Capital Advisors has pledged $200 million in funding over three years to support product development and bolster confidence in Plume's tokenization model. This capital is intended to facilitate expansion, particularly in Latin American markets with high credit card transaction volumes.
This development is part of Plume Network's broader strategy to bridge traditional finance and blockchain technology. The network has previously integrated Chainlink's Cross-Chain Interoperability Protocol (CCIP) for secure cross-chain messaging, partnered with Securitize to offer institutional assets through its Nest staking protocol, and received investment from YZi Labs to accelerate RWA adoption.
At the time of reporting, the network's native PLUME token was trading at $0.01715, down 2.29% over 24 hours.
