According to CoinMeta, Banco do Brasil announced an investment in $5 million worth of digital notes issued on Citi. This marks the first time a Latin American institution has conducted such a transaction. The bank stated that its proprietary finance department participated as an investor in this digital note investment, with the aim of evaluating new financial infrastructure based on distributed ledger technology. Banco do Brasil believes that the digitization of financial markets is a long-term structural development trend that can improve market efficiency and support innovation.