Itaú Unibanco, OpenAssets pilot tokenized assets in Brazil

Itaú Unibanco and OpenAssets are piloting tokenized bonds and funds with ANBIMA, involving 50+ firms. The project tests blockchain-based issuance, trading, and settlement in Brazil.

Itaú Unibanco, the largest bank in Brazil and Latin America by assets, has partnered with digital asset infrastructure provider OpenAssets to join a tokenization pilot led by the Brazilian Financial and Capital Markets Association (ANBIMA). This initiative aims to test the issuance, trading, settlement, and management of tokenized fixed-income securities and investment funds using distributed ledger technology. More than 50 financial organizations are participating in the pilot, which seeks to evaluate the technical, operational, governance, and compliance standards necessary for blockchain-based financial markets. The collaboration will focus on developing technical proofs of concept and assessing the required architecture and compliance systems for tokenized investments. Primary use cases include debentures and investment funds. Itaú previously took part in the Brazilian central bank’s Drex digital currency pilot, while OpenAssets recently raised $10 million in funding. This project underscores the growing momentum for blockchain adoption in Brazil’s traditional financial sector.