Brazil has emerged as a global leader in the tokenization of real-world assets (RWAs), with two major developments highlighting its rapid market growth. Liqi Digital Assets, in collaboration with the XDC Network, has exceeded $100 million in tokenized RWAs, with an ambitious target to reach $500 million by the end of 2026. This milestone signifies a transition from pilot testing to active, large-scale business use, involving assets like corporate loans and invoices.
In a parallel development, Latin American digital asset platform Mercado Bitcoin has deployed over $20 million of tokenized private credit on the Bitcoin sidechain Rootstock (RSK). The platform is targeting $100 million in issuances by April 2026, following a quick sell-out of its initial offering. Lucas Pinsdorf, business director at Mercado Bitcoin, noted the assets include a mix of receivables and corporate debt for both Brazilian and foreign borrowers, including an American company.
Mercado Bitcoin's strategy is multichain, with planned future RWA issuances on Stellar (XLM) and the XRP Ledger. The platform operates under licenses supervised by Brazil's Comissão de Valores Mobiliários (CVM) and the Central Bank of Brazil. According to RWA.xyz data, Mercado Bitcoin ranks among the world's top 10 tokenized private credit issuers, with more than $370 million in cumulative loans.
The broader Brazilian ecosystem is aiming even higher, with firms like Rayls and AmFi targeting over $1 billion in tokenized private loans by mid-2027. This regional push is part of a wider Latin American movement to bring yield-bearing instruments onchain, with Argentina's Ripio exchange also launching local currency stablecoins and tokenized sovereign debt.
