Banco do Brasil Completes $5 Million Digital Structured Note Transaction

Banco do Brasil, a Brazilian bank, announced an investment of $5 million using its own funds to complete a digital native structured note transaction issued by Citi 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 digitalization of assets, reduces operational steps, and enhances transaction traceability, laying the foundation for new trading, settlement, and asset management models. The bank noted that this investment aligns with its ongoing focus on changes in the financial industry. Francisco Lassalvia, the bank's Vice President of Wholesale Banking, stated that decentralized digital technology has become a long-term structural trend in financial markets. Roksolana Dushynska, Citi's Global Markets Equity Structured Products Manager, pointed out that distributed ledger technology can enhance the efficiency, transparency, and accessibility of capital markets. Banco do Brasil has previously participated in the Brazilian Central Bank's digital currency Drex pilot and proposed an offline payment solution. The bank is controlled by the Federal Government of Brazil and is also listed on the Brazilian securities market.