# Episode #173: Brazil's Next Export: Tokenized Credit with Paulo David

Page: https://stenobird.com/podcast/brazil-crypto-report-5342676/episode-173-brazil-s-next-export-tokenized-credit-with-paulo-david
Text version: https://stenobird.com/podcast/brazil-crypto-report-5342676/episode-173-brazil-s-next-export-tokenized-credit-with-paulo-david.md
Podcast: [Brazil Crypto Report](https://stenobird.com/podcast/brazil-crypto-report-5342676)
Published: 2025-11-11T21:54:23+00:00
Episode link: https://brazilcrypto.substack.com/p/episode-173-brazils-next-export-tokenized
Audio file: https://api.substack.com/feed/podcast/178496519/cde7eff7110c4122e50199a762623712.mp3
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JSON: https://stenobird.com/v1/public/podcasts/brazil-crypto-report-5342676/episodes/episode-173-brazil-s-next-export-tokenized-credit-with-paulo-david
Duration seconds: 3033

## Resource

🙌 You can listen to BCR on your favorite podcast platform YouTube | Spotify | Apple Podcasts 🔥 Join the BCR English language Telegram group to continue the conversation Olá pessoal! Today’s episode is with Paulo David, CEO and co-founder of AmFi, one of Brazil’s leading real-world asset tokenization platforms. Paulo is a serial entrepreneur who previously built and sold two major Brazilian fintechs - including Grafeno, which has processed over US$18 billion in transactions. He brings invaluable insights into how blockchain technology can transform the country’s capital markets. The Opportunity: Brazil’s “Most Attractive Export” Paulo frames Brazil’s challenge succinctly: t he country maintains the world’s second-highest interest rates, yet global investors remain largely absent from its private credit markets. While foreign capital flows freely into Brazilian equities, commodities, and venture investments, the private credit sector remains inaccessible due to complexity, lack of transparency, excessive intermediaries, and the absence of secondary markets. AmFi aims to bridge this gap by creating a standardized, transparent platform that connects Brazilian yield with global capital. Market Scale and Growth Trajectory The numbers tell a compelling story. Brazil’s capital markets have exploded from $20 billion to $150 billion in recent years, growing at approximately 40% annually with projections to reach $500 billion in the coming years. Yet a stark disparity remains: Brazil’s economy is 13 times smaller than the United States, but its private credit market is 56 times smaller. In Brazil, roughly 80% of business financing flows through traditional banks, while in the US, capital markets dominate - a dynamic Paulo sees shifting rapidly. Infrastructure Solutions Through Te…

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## Transcript

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