Brazil’s largest bank, Itaú Unibanco, has reportedly launched a cryptocurrency trading service for its clients, with initial offerings including Bitcoin (BTC) and Ethereum (ETH), as per statements from Guto Antunes, Itaú’s head of digital assets.
The bank intends to further broaden its cryptocurrency services in the future. Itaú Bank will function as the custodian, ensuring the secure storage of clients’ crypto assets. However, during the initial phase, clients won’t have the option to deposit or withdraw cryptocurrency using external wallets.
Antunes emphasized the security provided by Itau’s balance sheet for amounts invested, highlighting the growing interest in cryptocurrency services among Brazilian banks, including preparations for the national launch of the digital Brazilian real, the Drex. Itaú had previously introduced digital asset custody services, and about 85% of their clients expressed interest in storing cryptocurrencies with the bank.
