Citigroup issues tokenized structured notes, Brazilian bank purchases 5 million USD

According to Ledger Insights, in March of this year, Citibank issued its first native digital structured note on Euroclear's D-FMI tokenization platform, targeting distribution channels for Citibank's wealth management business.

Now, Banco do Brasil, a state-owned holding bank, has announced that it has invested $5 million to purchase subsequent notes in the same Citibank project. This Brazilian bank stated that this transaction is the first of its kind for a financial institution in Latin America. The Brazilian bank made the investment through its proprietary funds department on August 19, using its own funds for the instrument rather than investing on behalf of clients. Citigroup issued the note through its Luxembourg entity, with its London branch acting as the issuance and paying agent. The underlying reference asset of the structured note has not been disclosed.