- Bradesco has completed its first asset tokenization pilot
- The Bank issued a Certificate of Credit Bank (CCB) in the amount of R$10 million
- The operation was carried out within the framework of the regulatory protection of the Central Bank
Bradesco has completed its first asset tokenization trial for a bank, the financial institution reported on Friday (13). This is the issuance of a Credit Bank Bill (CCB) in the amount of R$10 million, executed in partnership with the OTC Brasil Digital Assets Exchange. The bank acted as the originator and distributor of the securities.
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The blockchain process, the technology behind crypto-assets, took place inside a central bank’s regulatory sandbox – an environment in which companies are authorized by the monetary authority to test innovative projects in the financial and payments fields. According to a note sent by Bradesco, it was the first regulated financial market token transaction in BC.
The bank reports that it has been studying tokenization solutions for the past two years. In 2020, for example, Bitz, the bank’s digital wallet, acquired 4ward, a fintech company that specializes in blockchain solutions for financial institutions.
