Brazil’s biggest bank Itaú joins tokenization pilot for bonds and funds

Brazil’s largest bank by market value has joined a pilot involving more than 50 financial organizations to test the issuance, trading, and settlement of tokenized fixed-income securities and investment funds. Summary More than 50 financial organizations are participating in ANBIMA’s tokenization pilot. Itaú and OpenAssets will test the full lifecycle of tokenized bonds and funds. The project will assess technical, operational, and compliance standards for blockchain-based markets. Itaú previously participated in the Brazilian central bank’s Drex digital currency pilot. OpenAssets said in an Aug. 11 announcement that it has started working with Itaú Unibanco on a structured use case within the tokenization pilot led by the Brazilian Financial and Capital Markets Association, known as ANBIMA. The project will combine OpenAssets’ digital-asset infrastructure with Itaú’s experience in Brazil’s capital markets. According to the announcement, the partners will develop technical proofs of concept and assess the architecture, standards, and compliance systems needed to support tokenized investments. Itaú tokenization pilot covers bonds and funds ANBIMA’s program will examine the full lifec...