Itaú joins Brazil's tokenization pilot with OpenAssets
Latin America's largest private bank tests tokenized assets in ANBIMA-led initiative.
1Pilot program details
Itaú, Latin America's largest private sector bank, has partnered with OpenAssets to test tokenized fixed-income securities and investment funds in Brazil. This pilot program is led by the Brazilian Financial and Capital Markets Association (ANBIMA). The tests include the issuance, trading, and settlement of securities using distributed ledger technology (DLT) in a controlled environment.
2Technical developments
The companies will develop technical proofs of concept and evaluate operational, compliance, and technology requirements for tokenized assets. Specific focus will be on use cases like debentures and investment funds. OpenAssets provides the tokenization infrastructure while Itaú contributes its capital markets expertise to explore how tokenized assets might function within institutional frameworks.
3Participants and process
In April, ANBIMA selected 20 use cases from 39 proposals submitted by over 50 banks, asset managers, and tech companies. Testing occurs on a private, permissioned DLT network in a simulated environment without real financial transactions. This approach aims to assess the technology's potential while minimizing risks during the experimental phase.
4Tokenized asset market growth
According to RWA.xyz data, the value of tokenized real-world assets on public blockchains has more than doubled in the past year, growing from approximately $18.9 billion in August 2025 to $38.3 billion currently. US Treasury debt constitutes the largest category, representing over $16 billion of this market. This growth reflects increasing institutional interest in blockchain-based asset representation.
5OpenAssets' role
OpenAssets plays a critical role in this pilot by providing tokenization infrastructure. The company collaborates with Itaú's capital markets expertise to test how tokenized assets might operate within institutional frameworks. This partnership could contribute to developing next-generation digital asset solutions for financial institutions, potentially setting a regional standard.
6ANBIMA's leadership
The Brazilian Financial and Capital Markets Association (ANBIMA) leads this pilot as one of Brazil's financial innovation pioneers. By bringing together industry stakeholders, ANBIMA evaluates DLT's potential to modernize financial infrastructure. This initiative forms part of broader efforts to advance Brazil's financial sector through technological innovation.
7Global trends
The tokenized asset market is expanding rapidly worldwide. Representing traditional financial products on blockchain technology offers new investment opportunities and operational efficiencies. Brazil's pilot reflects Latin America's fintech ecosystem developments and highlights the region's digital transformation progress in financial services.
8Future implications
If successful, Itaú and OpenAssets' pilot could become a model for financial institutions across Brazil and Latin America. Widespread tokenization may increase capital market liquidity and attract new investor demographics. Such initiatives could accelerate the integration of traditional finance with blockchain technology, potentially reshaping regional financial infrastructure.
Original article: Cointelegraph.com News — Itaú, Brezilya'da tokenizasyon pilotuna katılıyor