Banco Bradesco and Bolsa OTC Brasil have just carried out the first tokenization of a financial asset within the scope of the regulatory sandbox of the Central Bank of Brazil. Bradesco acted as originator and distributor of the securities. The tokenized asset is a CCB (bank credit note) worth 2 million dollars.
“Collaboration between institutions responsible for tokenization demonstrates how distributed ledger technology (DLT) can revolutionize asset registration and trading in the Brazilian financial market”, highlights Verdi Monteiro, CRO of Bolsa OTC Brasil.
Jefferson Bergamo, COO of Bolsa OTC Brasil, highlights that the first tokenization of a CCB within the regulated environment of the Central Bank of Brazil reinforces sophistication and power of innovation of the Brazilian financial system that, through DLT technology, increases the diversification, distribution, quality and security of its products.
“This operation allows companies to raise funds at a lower cost, with greater security than in traditional markets, further increasing the liquidity possibilities of a secondary market for private securities in Brazil.says Bergamo.
The tokenization process of the primary issue was carried out by Bolsa OTC Brasil through the DLT Corda Enterprise platform, developed by R3, “since it complied with the privacy requirements demanded by the regulated market”, assesses Nayam Hanashiro, CTO of Bolsa OTC Brasil.
The Director of Sales Engineering of R3 in Brazil, Luiz Jeronymo, highlights the innovative nature of the project and highlights its alignment with the characteristics of the Corda platform. “Once again we see how Corda differentiates itself in regulated environments, ensuring the efficiency of trading a tokenized asset and the privacy of the transaction and its participants.“, He says.
Bolsa OTC Brasil’s infrastructure, including the Corda Enterprise network operated, was hosted on AWS. “The components and services used guaranteed the resilience and safety of the operationHanashiro says.
Bolsa OTC Brasil also had the support of the company 7COMm, specialist in trading systems and tokenization of digital assets, for the delivery of Web and Blockchain applications. “It is essential to have partners that expedite our deliveries, maintaining the quality standard required by the financial market”, adds the CTO. “For 7COMm it is an honor to add our experience to an innovative solution that will facilitate fundraising and promote the Brazilian economy”, highlights Sergio Yamani, Director of Professional Services at 7COMm.
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