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Itaú's entry into an ANBIMA-led tokenization pilot with OpenAssets makes the case that Brazilian fixed income is moving toward blockchain-based infrastructure.
The pilot will test tokenized versions of fixed-income securities and investment funds under the umbrella of Brazil's capital markets industry association.
The risk is that joining a controlled pilot is not the same as building a liquid secondary market, and the distance between those two outcomes is where most institutional blockchain projects have historically found their limits.
What the pilot actually tests ANBIMA, the association representing Brazil's financial and capital markets industry, is running the initiative.
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