Overview
- The CPR-F credit rights were registered on B3 on Friday, July 24, 2026, after BMP originated a R$100,000 loan to Fazenda Engenho Velho and sold the receivable to Target FIDC.
- Cowmed fitted each animal with an AI-powered sensor collar that records health, behavior, and location data and cryptographically links a tamper-resistant digital ID to the loan document.
- The ten cows were valued at R$120,000, producing a collateralization ratio of 1.2, a much tighter cushion than typical livestock loans because continuous monitoring reduces verification uncertainty.
- Participants and analysts say the move shows institutional willingness to accept tokenized real-world assets for rural credit, but tangible risks remain, including animal death or disease, dairy-price swings, and IoT or data failures.
- The project responds to steep agribusiness credit stress in Brazil and could expand quickly: Cowmed monitors roughly 100,000 cows and projects wider use of monitored livestock to unlock registered lending in coming years.