Citigroup Issues Tokenized Structured Notes, Brazilian Bank Invests $5 Million
Citibank has issued its first native digital structured note on Euroclear's D-FMI tokenization platform, targeting wealth management distribution channels. The National Bank of Brazil announced it has invested $5 million to purchase subsequent notes in the project, marking the first instance for a financial institution in Latin America. The Brazilian bank made the investment on August 19 through its proprietary funds department, using its own funds rather than investing on behalf of clients. Citigroup issued the note through its Luxembourg entity, with its London branch acting as the issuing and paying agent, while the underlying reference asset remains undisclosed.
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