Leaders from Itaú and B3 discuss asset tokenization strategy in Brazil: prioritizing fixed-income assets, building regulatory alignment with CVM, and implementing native corporate actions (dividends, voting, splits) for tokenized securities. The panel explores how institutional adoption depends on proving tokenization reduces systemic risk without requiring new regulatory frameworks.
Brazilian institutional leaders from Itaú and B3 debate where tokenization delivers value and how to build it within existing regulatory structures. Itaú prioritizes fixed-income asset classes and stablecoin infrastructure, emphasizing demand-driven implementation over technological exploration. B3 is implementing a parallel tokenized custody model where tokenized securities retain all corporate action rights and legal responsibilities of traditional holdings. Both panelists stress regulatory alignment: working with CVM and within existing legal frameworks rather than pursuing token-native efficiency outside those guardrails. Key tension: how to make markets more efficient through tokenization while maintaining the regulatory and legal scaffolding that institutions require. Panelists emphasize that institutional adoption will hinge on proof that tokenization doesn't introduce systemic risk to Brazil's capital markets.
