TokenOne brings tokenised Brazilian credit to the Rayls Public Chain
Every day, businesses across Brazil deliver goods they won't be paid for until next month, or the month after. The money they're owed is real. It just isn't usable yet.
TokenOne turns that money into investments. And as of this week, part of it lives on the Rayls Public Chain.
TokenOne's first three assets on Rayls, the NF01, NF02 and NF03 debentures, are now onchain. Together they're worth R$35M, around $6.3M, and anyone can see them on the Rayls Transparency Portal.
What TokenOne does
TokenOne builds those securities, and issues them as tokens. It takes the receivables of businesses that sell on credit and turns them into debentures that investors can hold. So far it has tokenised more than $13M across 17 structured assets.
It does this inside Brazil's securities rules, not around them. In 2023 the CVM, Brazil's securities regulator, made clear that tokens backed by receivables can be securities, and that public offers of them are securitisation (Finsiders). In February 2026 TokenOne was authorised by the CVM as an investment crowdfunding platform, so it can offer these assets to the public (Finsiders).
It's part of a market that is growing fast. According to RWA Monitor, tokenised issuance in Brazil reached R$4.84 billion in the first half of 2026, more than double the R$2.17 billion of a year earlier (MundoCoop, from Exame).
Why a public chain
Private credit has always asked investors to take a lot on trust. What exists, how much of it, and who holds it are usually known only to the issuer and its administrators.
Putting the debentures on a public chain changes that. Each one is a token on the Rayls Public Chain, with its supply and every transfer recorded where anyone can check them.
The Rayls Public Chain was built for exactly this kind of asset. It's a permissionless EVM Layer 1 where compliance sits at the smart contract layer, so a regulated issuer can put regulated securities on public infrastructure. Gas is paid in USDr, a dollar stablecoin, so costs stay predictable.
What it means for Rayls
Rayls exists to bring financial institutions onchain.
TokenOne is what that looks like in practice: a regulated Brazilian issuer, real credit backed by real businesses, settling on public infrastructure.
If you issue real-world assets and want them on public infrastructure built for regulated finance, talk to our team.
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