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Itaú pilots tokenized bonds and funds with OpenAssets in Brazil
The pilot, run with ANBIMA, will test issuing, trading, and settling fixed-income securities and investment funds on distributed-ledger technology.
Itaú Unibanco, Latin America’s largest bank by assets, is taking part in an industry-led pilot to tokenize fixed-income securities and investment funds in Brazil, according to CoinDesk. The bank is working with tokenization specialist OpenAssets under a run overseen by the Brazilian financial watchdog ANBIMA.
The partners said the project will test how these assets can be issued, traded, and settled using distributed-ledger technology. They also plan to examine the rules and technical standards banks and asset managers would need to use such systems.
CoinDesk reported that Itaú’s involvement adds weight to the broader tokenization push among major financial firms. The article also notes Citi’s estimate that tokenized securities could reach a $5.5 trillion market by 2030 as more financial assets move to blockchain-based systems.
The story says Brazil has been a prominent testing ground for putting traditional financial assets on blockchain rails, citing other local initiatives including plans to tokenize debt and receivables and additional efforts connected to Brazil’s crypto and exchange ecosystem. It also references a separate example in Brazil where farmers tokenized 10 cows and traded the tokens via infrastructure connected to B3.