Bradesco carried out the operation as part of a regulatory sandbox promoted by the South American country’s central bank.
Bradesco, Brazil’s second-largest private bank, launched its first tokenized bank credit note on Friday.
The bank completed the transaction for a total of 10 million Brazilian reals — equivalent to $1.95 million — under a regulatory sandbox run by the Central Bank of Brazil, the company said in a statement, adding that it was the first financial market tokenization operation regulated by that monetary authority.
Other banks have also recently embarked on the Brazilian tokenization market. In December, also as part of the Brazilian Central Bank’s sandbox, Santander issued 40 million Brazilian reals ($7.8 million) in tokenized bonds to Indigo, a parking management company.
In July 2022, Itaú Unibanco, Brazil’s largest private bank, announced the launch of its own tokenization platform, Itaú Digital Assets. In addition to tokenization, the firm also provides crypto custody and token as a service (TaaS) products.
© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Support CryptoCaster with any amount of Bitcoin by copying and pasting our Unstoppable Domain; villagewest.crypto in your sending wallet or crypto coin exchange.
Your contribution support will help in our growth, coverage, and global presence. CryptoCaster is a decentralized publisher “Covering a Global Evolution Re-defining Mediums Of Exchange”. We will continue to upgrade and create impactful sections to our lineup.
Any amount, as often as you can contribute will be greatly appreciated.
Every contribution, however big or small, is so valuable for our future. Thank you for your consideration and support!
Member of Global Meta Media Consortium℠ – www.g2mc.world