Hassan Maishera
On Wednesday, the Avalanche Foundation announced via X that Plume’s nOPAL is now live on the Avalanche blockchain.
Issued by BlackOpal, the tokenized vault gives allocators access to FX-hedged Brazilian credit card receivables, generating yield as those payments settle.
The launch gives allocators direct access to Brazilian credit card receivables through a tokenized vault, expanding access to an asset class that has traditionally been limited to institutional markets. It also expands nOPAL to Avalanche, connecting Brazilian private credit with a growing ecosystem of institutional issuers and allocators.
Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem. Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.
This is made possible by Avalanche’s unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain, and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely, having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases.
AVAX is down 0.4% today and currently trades at $6.57 per coin.
