Itaú Unibanco Advances in Tokenization with New Pilot Program

Itaú Unibanco Partners with OpenAssets for Tokenization Pilot

Brazil’s largest lender, Itaú Unibanco, is making significant strides in the field of tokenization. The bank has announced a collaboration with tokenization specialist OpenAssets to initiate a pilot program focused on tokenized bonds and investment funds. This initiative is supported by Brazil’s financial regulator, ANBIMA, highlighting the project’s importance within the national financial landscape.

Exploring Tokenized Asset Applications

The partnership aims to test the issuance, trading, and settlement of fixed-income securities and investment funds using distributed-ledger technology. The project also seeks to establish the necessary rules and technical standards for banks and asset managers in this evolving sector, positioning Itaú at the forefront of industry innovation.

A Growing Trend in Brazil’s Financial Sector

As Brazil emerges as a vital hub for tokenization, Itaú joins a host of financial institutions exploring traditional investments on blockchain platforms. With assets exceeding $562 billion, according to S&P Global, Itaú’s involvement adds weight to the initiatives taking place in Brazil. The tokenization of securities has gained traction on Wall Street, signaling a shift among banks and asset managers toward this emerging technology.

Broader Context of Brazil’s Push Toward Tokenization

Brazil’s commitment to tokenization has gained momentum, with various projects underway beyond just bank-led efforts. In July 2025, VERT Capital announced its intention to tokenize up to $1 billion of debt and receivables on the XDC Network. Additionally, Brazil-based Mercado Bitcoin is set to tokenize $200 million in assets on the XRP Ledger, which includes fixed-income and equities.

Tokenization Reaches Diverse Sectors

An innovative application of tokenization emerged in the agricultural sector as well, where farmers in Paraná managed to tokenize ten dairy cows, enabling them to trade the tokens via infrastructure linked to Brazil’s B3 exchange. This represents a novel approach to leveraging blockchain technology in various economic segments.

Itaú’s Continued Engagement with Blockchain Technology

This pilot is not Itaú’s initial venture into the realm of tokenization. In 2023, the central bank of Brazil selected the institution to participate in the Drex pilot, which focused on blockchain-based transactions involving tokenized money and assets. Gabor Gurbacs, CEO of OpenAssets, emphasized the significance of Brazil’s finance market, stating,

“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.”

The collaborative effort between Itaú and OpenAssets is poised to influence the future of financial transactions in Brazil, further establishing the nation as a leader in the tokenization trend.