Itaú Pushes Brazil's Tokenization From Pilot to Production With OpenAssets

Itaú joins OpenAssets in Brazil's ANBIMA tokenization pilot

Itaú, Latin America's largest bank by market capitalization, has stepped deeper into tokenization. The lender joined a joint initiative with digital-asset infrastructure provider OpenAssets, announced on 11 August 2026. The collaboration forms a structured use case inside a pilot led by the Brazilian Financial and Capital Markets Association, known as ANBIMA. It pairs OpenAssets' tokenization infrastructure with Itaú's capital markets experience. The stated goal is to move tokenization from early-stage exploration into practical execution. Itaú ranks as the largest bank in the region by market value, based on Bloomberg data cited in the announcement.

The pilot tests tokenized bonds and investment funds

The collaboration tests how fixed-income securities and investment funds can be issued, traded, and settled using distributed-ledger technology (DLT). The scope includes debentures, a common form of Brazilian corporate bond. The two partners plan to build technical proofs of concept for these instruments. They also plan to advise on tokenization architecture and standards. A further goal is to assess the operational and compliance frameworks that banks and asset managers would need. The initiative focuses on how tokenized assets can operate within the requirements that financial institutions already follow.

ANBIMA's pilot gathers more than 50 market organizations

ANBIMA's tokenization pilot brings together more than 50 financial and capital markets organizations. It aims to test and standardize the full lifecycle of tokenized instruments, from issuance through trading and settlement, on DLT networks. The program evaluates the efficiency gains and operational challenges that tokenization could bring. Its broader purpose is to support the development of tokenized markets across Brazil's financial system.

"Brazil has been one of the most forward-looking markets in finance and it is a natural place to move tokenization from exploration to production", 11 August 2026. — Gabor Gurbacs, Chairman and CEO, OpenAssets

Brazil's tokenization market gains fresh momentum

The Itaú effort adds a major bank to a fast-growing local market. According to CoinDesk, asset manager VERT Capital plans to tokenize up to $1 billion in debt and receivables. The report said crypto exchange Mercado Bitcoin plans to tokenize about $200 million in assets. Brazil's central bank also selected Itaú in 2023 for its Drex pilot, a project testing blockchain-based transactions, according to CoinDesk. These efforts point to a market moving from experiments toward practical use.

Investors including Tether backed OpenAssets last year

According to CoinDesk, OpenAssets raised $10 million last year in a round led by Valor Capital Group. The report said investors included stablecoin issuer Tether and members of the family that founded Itaú. OpenAssets describes itself as a digital-asset infrastructure provider. It supplies the tokenization infrastructure for the Brazilian pilot.

Tether's USDT held its dollar peg at publication

Tether ranks among the investors named in that funding round. Its USDT stablecoin traded at $1.00, with a market capitalization near $183 billion on 12 August 2026 (CoinPaprika, 12 August 2026). USDT is the third-largest cryptocurrency by market value. The pilot itself does not involve the token.

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