About

BlackOpal is LATAM's global payments finance platform with integrated dual rails.

We specialize in Brazilian credit card receivables, delivering investment-grade yield, asset liquidity, and structural zero credit risk.

Investment-Grade Yield

We partner with leading fintechs to source high-quality receivables from merchants with proven transaction history. We underwrite based on real-time transaction data, not static financial statements.

Asset Liquidity

Short-term receivables purchased via True Sale as 100% asset-backed facilities. Onchain settlement via stablecoins enables daily liquidity and eliminates correspondent banking delays.

Structural Zero Credit Risk

Our Repayment Intercept System routes collections through Visa and Mastercard settlement rails, not merchant repayment. Ownership is locked via Brazil's Central Bank C3 Registry. Currency risk is hedged via NDFs.

Executive team

BlackOpal is led by a seasoned team with deep expertise across credit markets, asset management and emerging market investment. Together, the team combines institutional-grade financial expertise with ground-level operational knowledge of Brazilian credit markets and blockchain infrastructure.

JASON DEHNI

Based in Dubai, UAE, Jason Dehni is Co-Founder & CEO at BlackOpal. With over 25 years of senior management experience spanning North America, Latin America, Asia, and the Middle East, Jason brings deep expertise across credit markets, fund management, and emerging market investment. His executive career includes roles as Group COO & MENA CEO of a publicly traded digital asset management company, Founder & CEO of a trade finance platform, and CEO of a Hong Kong-based insurance and wealth management firm. He previously served as Global Head of Strategy for a top-10 global insurance and wealth management company and spent a decade in banking, including senior roles in international private banking across Latin America and corporate debt markets.

Jason began his career as a consultant at McKinsey & Company. He holds an MBA from Harvard Business School and an Honours BA in Economics & Political Science from the University of Toronto

PEDRO VIEGAS

Based in São Paulo, Brazil, Pedro Viegas is Co-Founder, COO & Head of Payments Infrastructure at BlackOpal. He brings over 18 years of leadership experience in fintech and asset management across Latin America, Asia, Europe, and the Middle East. Pedro's most notable achievement includes building an end-to-end acquirer platform in Brazil. His expertise encompasses product structuring and management, stablecoin asset allocation execution, financial engineering, and technological innovation across asset management, fintech, banking, e-commerce, and logistics sectors.

Previously, Pedro served as Engineering Leader at UAE's leading digital bank where he was responsible for architecting and managing the bank's payment rails infrastructure.

LUCAS VINICIUS

Based in São Paulo, Brazil, Lucas Vinicius is Co-Founder & Head of Receivables Financing at BlackOpal. He brings over 15 years of experience across product launches, business development, and sales in internet businesses.

Throughout his career, Lucas has successfully built and launched more than a dozen products across multiple sectors, with end-to-end responsibility from product development through go-to-market execution. His expertise encompasses credit origination structuring, institutional partnership development, product strategy, and B2B sales across Latin America, the United States, and Europe. Previously, Lucas held leadership positions as Head of Product for a creator platform, Head of Sales covering US, Europe, and LatAm markets, and served as Consultant and Brazil Ambassador for an AI fintech platform. Earlier in his career, Lucas co-founded a digital travel marketplace where he served as Chief Operating Officer.

Lucas holds a Bachelor of Business Administration with a focus in Marketing from Pontifícia Universidade Católica do Rio Grande do Sul and completed business administration studies at the University of California, San Diego.

Offices

Bahamas

Albany Financial Center

Suite 706, Albany, South Ocean Blvd.,

Nassau, The Bahamas

Brazil

Avenida Paulista

1374 Andares 4, 5, 6, 11 e 12

Bela Vista, São Paulo

SP, 01310-100, Brazil

UAE

674G+R86 Innovation One

Trade Centre, DIFC

Dubai, UAE

FUND

BlackOpal Onchain Private Credit Fund I LTD. SAC, is a professionally designated open-end fund incorporated in the Commonwealth of The Bahamas on 8th April 2024 and registered as a segregated account company on 4th Oct 2024 under the International Business Companies Act, 2000, registration number 212939B, pursuant to the provisions of the Segregated Accounts Companies Act, 2004, (No. 20 of 2004) and has Opal Capital Ltd. as its designated fund manager. The participating shares offered by the Fund may not be sold to or purchased by a 'US Person' except when this offering is made as a private placement pursuant to section 4(2) of 'THE U.S. SECURITIES ACT OF 1933', as amended (THE "U.S. SECURITIES ACT"), and only to parties that are "Accredited Investors" as defined in rule 501(A) of Regulation D under the U.S. SECURITIES ACT ("PERMITTED U.S. PERSONS"). The fund warrants and ensures that all subscriptions, redemptions/withdrawals, transfers, and conversions of the Fund's Shares are processed in full compliance with all Applicable AML Regulations. The fund verifies and records the identity of all shareholders/investors (including beneficial owners), and where required, conducts enhanced due diligence on any politically exposed persons ("PEP"), immediate family members, or close associates of PEPs. The fund further ensures that it does not accept or maintain any subscription funds from foreign shell banks or from individuals or entities listed on sanctions lists issued by the U.S. Treasury Department's Office of Foreign Assets and Control (OFAC), the European Union, United Nations, or other relevant jurisdictions' sanctions programs. An investment in the Shares of Blackopal Onchain Private Credit Fund I Ltd. carries substantial risks, particularly due to the Fund's focus on alternative, illiquid assets such as digital and blockchain-based instruments. The Fund's asset values may be affected by political developments, regulatory changes, technological risks, market volatility, and economic conditions, which can materially impact performance and liquidity. Additionally, Shares carry no voting rights, and investors may experience significant price fluctuations between Valuation Days, affecting redemption values. Past performance is not indicative of future results. Potential investors must read all offering materials, including the Private Placement Memorandum, in their entirety before making any investment decision. Investment in the Fund involves significant risk of loss and is suitable only for sophisticated investors who can afford to lose their entire investment. It is strongly recommended that prospective investors consult with their financial, legal, and tax advisors to fully understand the risks involved and to determine whether this investment aligns with their financial situation, risk tolerance, and investment objectives. By investing in the Fund, investors acknowledge and accept these risks and confirm they meet all applicable eligibility requirements.