The deal arrives amid a severe credit crunch in Brazil’s agribusiness. Serasa Experian data cited in one report shows bankruptcy protection filings in the sector are expected to reach 1,990 in 2025, nearly four times the 534 filings in 2023. Dairy farmers have been hit especially hard: Cepea figures indicate prices paid to milk producers fell 25.8% in real terms during 2025, while dairy exports dropped 31.6%. Cowmed already monitors roughly 100,000 cows across 1,200 farms in six countries, representing about R$2 billion in herd value, and projects it could facilitate up to R$400 million in collateralized financing from its network. Target FIDC is evaluating four additional agreements expected to total R$5 million in credit during 2026.
While Brazil experiments with tokenized collateral, El Salvador’s five‑year‑old Bitcoin experiment continues to show limited traction in remittances. Central bank data for the first half of 2026 shows only $35.4 million entered the country through digital currency channels—just 0.7% of the $5.06 billion in total family remittances. That is a 39.1% increase from the $25.4 million recorded in the same period of 2025, but it remains dwarfed by traditional channels: banks and remittance companies handled over 84% of the volume. The government‑backed Chivo wallet, once promoted as a tool to save Salvadorans $400 million annually in fees, is now winding down under an IMF credit deal.