Itaú Unibanco is collaborating with OpenAssets on a pilot program to explore tokenized bonds and investment funds in Brazil.
Itaú Unibanco, the largest bank in Brazil, is intensifying its commitment to tokenization through a new partnership with OpenAssets, a digital asset infrastructure company. This collaboration is part of a pilot program led by the Brazilian Financial and Capital Markets Association (ANBIMA), aimed at exploring the dynamics of tokenized bonds and investment funds.
New Initiative Focused on Tokenized Securities
The initiative will delve into the processes of issuing, trading, and settling fixed-income securities using distributed ledger technology. Both parties have indicated that this pilot will also evaluate regulatory requirements and technical standards essential for banks and asset managers in adopting these systems.
Itaú, headquartered in São Paulo, has assets exceeding $562 billion, making it the leading financial institution in Latin America, according to S&P Global.
Tokenization is becoming increasingly prevalent on Wall Street, where financial entities are leveraging blockchain technology for managing various asset classes. Citi has estimated that the tokenized securities market could reach $5.5 trillion by 2030 as more assets migrate to blockchain platforms.
Brazil's Growing Role in Tokenization
Brazil is emerging as a key player in the tokenization arena, with projects extending beyond traditional banking efforts. In July 2025, VERT Capital plans to tokenize up to $1 billion in debt on the XDC Network, while Mercado Bitcoin intends to tokenize $200 million in assets on the XRP Ledger.
Additionally, a unique tokenization project in Brazil’s agriculture sector involved farmers in Paraná tokenizing dairy cows to facilitate trade amid loan difficulties, utilizing infrastructure linked to the B3 exchange.
This initiative builds on Itaú's prior involvement in tokenization, having participated in a previous pilot program by Brazil’s central bank, which tested blockchain transactions with tokenized assets.
Gabor Gurbacs, CEO of OpenAssets, remarked, “Brazil has been one of the most forward-looking markets in finance, making it a natural environment for advancing tokenization from exploration to implementation.”
OpenAssets successfully raised $10 million last year to enhance its tokenization infrastructure, with backing from Valor Capital Group, Tether, and members of the Itaú founding family.
