Banco do Brasil becomes first Latin American financial institution to buy $5M in Citi tokenized structured notes

Odaily News — Citi issued its first native digital structured note in March this year via Euroclear's D-FMI tokenization platform, distributed through its wealth management business.

Brazil's state-owned bank Banco do Brasil invested $5 million through its proprietary funds desk on August 19, purchasing notes from subsequent issuances under the same Citi program. The bank stated that this transaction marks the first of its kind by a Latin American financial institution. The note was issued by a Luxembourg-based Citi entity, with Citi's London branch serving as issuing and paying agent. The underlying reference asset was not disclosed.