Itaú joins Brazil tokenization pilot with OpenAssets

The bank will test tokenized fixed-income securities and investment funds as part of an ANBIMA-led industry pilot.

Itaú, Latin America’s largest private sector bank, has partnered with digital asset infrastructure provider OpenAssets to participate in an industry-led pilot testing the tokenization of fixed-income securities and investment funds in Brazil.

The initiative is led by the Brazilian Financial and Capital Markets Association (ANBIMA), which is testing the issuance, trading and settlement of capital markets instruments using distributed ledger technology (DLT).

According to Tuesday’s announcement, the companies will develop technical proofs of concept and assess the operational, compliance and technology requirements for tokenized assets, with debentures and investment funds among the use cases being explored.