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

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

Banco do Brasil stated that blockchain technology enables native digitalization 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 this 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 the Brazilian 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)