VBSO assists Itaú and Liqi Digital in structuring the first TIDC
VBSO Advogados assisted Itaú and Liqi Digital Assets, acting as deal counsel in structuring the first TIDC (Token de Investimento em Direitos Creditórios), a set of tokens that facilitates the acquisition and turnover of credit rights portfolios, similar to a Fundo de Investimento em Direitos Creditórios (FIDC), with a value of R$20 million.
The TIDC represents a remarkable advancement in the credit rights tokenization market. The instrument operates like an FIDC, incorporating specific controls and conditions directly into its programming, enhancing efficiency in operations compared to those using traditional structures.
The structure of the new product is entirely built on blockchain technology, providing heightened security, and making it traceable and auditable in real-time. Furthermore, by streamlining the role of intermediaries, structuring costs are significantly reduced.
The VBSO team was led by partners Erik Oioli (pictured left) and Henrique Vicentin Lisboa (pictured right) and included lawyers Leonardo Pontes Aguiar, Diogo Olm, Clarissa Pradel, and intern Bruno Bonomi.
In this operation, the commercial receivables originating from SB Crédito were tokenized by Liqi, which was also responsible for creating the smart contracts. Oliveira Trust acted as the administrative agent, Itaú BBA as the structurer, and Itaú Unibanco was the senior token investor.
