Bradesco Raises $2 Billion to Fuel Digital Transformation

Banco Bradesco SA has announced plans to raise up to $2 billion in capital to fund its digital transformation, which includes blockchain infrastructure, stablecoin pilots, and crypto asset custody.

The Brazilian banking giant's capital increase will be backed by its top investors. The funds will be used to fuel the bank's ongoing efforts to digitize its operations and explore new technologies.

Bradesco has been building a cryptocurrency and blockchain playbook over the past several years, with initiatives dating back to 2016 when it joined the R3 consortium and ran digital wallet trials.