Banco do Brasil Completes $5 Million Digital Structured Note Transaction, a First in Latin America

Odaily Planet Daily News – Banco do Brasil announced a $5 million investment using proprietary funds in a digital native structured note transaction issued by Citi and completed through the Euroclear digital financial market infrastructure platform, marking the first such transaction in Latin America. Banco do Brasil stated that blockchain technology enables the native digitization of assets, reduces operational steps, and enhances transaction traceability, laying the foundation for new models of trading, settlement, and asset management. The bank emphasized 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, remarked that decentralized digital technology has become a long-term structural trend in financial markets. Roksolana Dushynska, Citi’s Global Markets Manager for Equity Structured Products Issuance, highlighted that distributed ledger technology can improve efficiency, transparency, and accessibility in capital markets. Banco do Brasil previously participated in the pilot program for Brazil’s central bank digital currency, Drex, and proposed an offline payment solution. The bank is majority-owned by the Brazilian federal government and is also listed on the Brazilian stock exchange. (Bitcoin.com News)