Brazil Tokenized 10 Cows on B3: Is It Really a Crypto Token?
Ten dairy cows in Paraná became loan collateral registered on B3, Brazil's main stock exchange, in a deal widely celebrated as a breakthrough for tokenized cows. One detail got lost in the coverage. There is no crypto token.
The R$100,000 (about $20,000) operation relies on a traditional Brazilian credit instrument and an encrypted digital identity built from sensor data. Nothing in it trades on a blockchain.
Tokenized Cows: A Decades-Old Credit Note, Not a Blockchain Asset
The producer at Fazenda Engenho Velho in Imbituva, Paraná, signed a Cédula de Produto Rural Financeira (CPR-F), a rural credit note that Brazilian agribusiness has used for decades. BMP Sociedade de Crédito Direto originated the loan, Exame reported.
Target FIDC, a receivables investment fund, then acquired the credit rights and registered the operation on B3's conventional infrastructure. Ten Holstein cows valued at R$120,000 stand behind the credit as movable collateral.
Each animal carries an encrypted digital identity that agritech firm Cowmed built from collar data on health, location, and behavior. Cowmed executive Thiago Martins told CNN Brasil the digitization makes each cow eligible for formal registration at B3 as a movable asset.
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