Banco do Brasil completes $5 million digital structured note transaction, a first in Latin America

Odaily News: Banco do Brasil, a Brazilian bank, announced that it has invested $5 million of proprietary funds in a digitally native structured note transaction issued by Citi and settled through the Euroclear digital financial market infrastructure platform, marking the first transaction of its kind in Latin America.

Banco do Brasil stated that blockchain technology enables the native digitization of assets, reducing operational steps and enhancing transaction traceability, laying the foundation for new models of trading, settlement, and asset management. The bank noted that the investment aligns with its ongoing focus on changes in the financial industry.

Francisco Lassalvia, Vice President of Wholesale Banking at Banco do Brasil, said that decentralized digital technology has become a long-term structural trend in financial markets. Roksolana Dushynska, Product Manager for Equity Structured Products at Citi Global Markets, pointed out that distributed ledger technology can improve capital market efficiency, transparency, and investor accessibility.

Banco do Brasil previously participated in the pilot of Brazil's central bank digital currency, Drex, and proposed an offline payment solution. The bank is controlled by the Brazilian federal government and is also listed on the Brazilian securities market. (Bitcoin.com News)