Brazil's largest lender Itaú is stepping deeper into the tokenization

FinanceBrazil's largest lender Itaú is stepping deeper into the tokenizationItaú Unibanco said it teamed up with tokenization specialist OpenAssets to test tokenized bonds and funds in a pilot run by Brazil's financial watchdog ANBIMA.By Krisztian Sandor|Edited by Nikhilesh De53 min ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowItaú, Latin America’s largest bank by assets, is working with OpenAssets on an industry-led test of tokenized fixed income and investment funds.Brazil has emerged as a testing ground for putting bonds, credit and other financial assets on blockchains under regulated structures.Brazil’s biggest bank is taking another step into tokenized assets, adding to a growing list of the country’s financial heavyweights experimenting with putting traditional investments on blockchain rails.Itaú Unibanco has started working with digital-asset infrastructure provider OpenAssets on a tokenization pilot run by Brazilian Financial and Capital Markets Association ANBIMA, the companies said Tuesday.The project will test how fixed-income securities and investment funds can be issued, traded and settled using distributed-ledger technology, the firms said in a press release. The work will also examine the rules and technical standards needed for banks and asset managers to use such systems.Itaú’s involvement gives the effort some heft. The São Paulo-based bank is Latin America’s largest lender, with more than $562 billion in total assets, according to S&P Global.Tokenization has become one of Wall Street’s favorite use cases for blockchain technology, with banks and asset managers experimenting with putting bonds, funds, private credit and equities on digital ledgers. Citi has estimated that tokenized securities could grow into a $5.5 trillion market by 2030 as financial assets will move onto blockchain-based systems.Brazil’s tokenization pushBrazil has emerged as a key hub for t…

Brazil's largest lender Itaú is stepping deeper into the tokenization

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