Banco do Brasil makes first digital note investment in $5M Citi deal

Banco do Brasil has invested in a $5 million digitally native structured note issued by Citi on Euroclear’s blockchain-based infrastructure, completing what the lender described as the first transaction of its kind involving a Latin American institution. Summary Banco do Brasil invested $5 million through its proprietary treasury in a digitally native structured note issued by Citi on Euroclear’s D-FMI platform. The bank described the investment as its first digital note transaction and the first deal of its kind involving a Latin American institution. Citi issued the structured note through its Luxembourg entity, while its London branch served as the issuance and payment agent. The note was issued, registered and managed through blockchain infrastructure designed to reduce processing steps and improve transaction traceability. Banco do Brasil said its proprietary treasury participated as an investor in the Digitally Native Structured Note issued by Citigroup Global Markets Funding Luxembourg SCA on Euroclear’s Digital Financial Market Infrastructure, or D-FMI, platform. Citi Issuer Services, operating through Citibank N.A.’s London branch, served as the issuance and payment agent ...