Brazilian Crypto Startup AmFi Aims To Reach $100 Million In The International Market
AmFi, a Brazilian company with an eye on the capital market, plans to use the tokenization of conventional financial assets to transact as much as BRL 500 million (or $100 Million) on its platform by the end of the year .
AmFi, a Brazilian company with an eye on the capital market, plans to use the tokenization of conventional financial assets to transact as much as BRL 500 million (or $100 Million) on its platform by the end of the year .
Users Can Access AmFi on the Avalanche Network
AmFi tokens are sold to international investors via pools of loans tied to the legal frameworks of the debts, and they are traded on the Avalanche network . The underlying assets may be typical financial instruments like Bank Credit Notes (CCBs), trade notes or judicial assets .
Paulo David, CEO and co-founder of fintech, highlights this while defending Brazil’s progress in the perspective of the global trend toward tokenizing assets .
“Brazil’s financial sector is very sophisticated . We’ve built our economy on a foundation of cutting-edge technology, careful risk management and groundbreaking innovation . It is now time for the financial markets to change and we want to lead this change with the help of our partners and clients . Because of technological advancements, we are already working with some of the most important and sensational players on the market . In addition to facilitating access to liquidity we reduce the time and costs to access capital,” he says .
AmFi Has a Very Experienced Team Behind It
Paulo David, CEO of the company says, “we are participating in an intense regulatory agenda with the Central Bank and we are immensely proud to have been one of those selected to discuss tokenization of the financial market .” This is in reference to the country’s recent legislative shifts .
Partners of AmFi include Paulo Davi, Chief Product Officer Joo Pirola, Chief Technology Officer Artur Malabarba, Chief Legal Officer Eduardo Tang, Chief Financial Officer Rodrigo Sousa and Chief Technology Officer Otávio Schwanck . Entrepreneurs working for other major financial institutions such as Biva (which was acquired by PagSeguro in 2017) and Grafeno (one of the leading fintechs in Brazil) with over R$180 billion ($32 Billion) in transactions in 2023 and over 6,000 clients .
“Being very close to the traditional market we have built a close relationship with the regulator over almost a decade in order to build the AmFi platform in a safe way and in compliance with current rules and legislation creating a cutting-edge solution that pleases everyone involved,” says Joo Pirola.
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