The bank took a prudent approach to ensure compliance with financial regulations and provide a secure environment for digital asset transactions.
Itaú Unibancoa prominent Brazilian bank, announced the introduction of trading services Bitcoin and Ethereum for its clients. The new offering, available through the bank’s ion investment platform, marks the institution’s foray into the burgeoning cryptocurrency market in Brazil.
The deployment of these services will be gradual, initially focusing on the regulated Bitcoin and Ether trading. Itaú adopted a prudent approach to ensure compliance with financial regulations and provide a secure environment for digital asset transactions. Guto Antunes, Director of Digital Assets at Itaú Unibanco, highlighted the bank’s commitment to offering innovative and regulatory-compliant digital financial solutions.
“We entered the market in a more mature situation and our custody, structured with a focus on client security, is a key element,” said Itaú’s Head of Digital Assets, Guto Antunes.
In a landscape where other Brazilian financial players such as XP and PicPay have withdrawn due to regulatory uncertainty, Itaú is carefully positioning itself. To the disallow external transactions In this phase, the bank maintains control over the segregation of assets and promotes security similar to that of conventional bank accounts.
Cryptocurrencies.webp
Antunes also noted that future expansions of services will be in line with the evolution of Brazilian cryptocurrency regulations. The objective of this strategy is to serve a digitally savvy clientele and, at the same time, navigate the complexities of centralized regulation of cryptocurrencies.
At the end of last year, Parliament approved the law that establishes the framework for the cryptocurrency trading in the country and last June, the Government appointed the central bank as the body responsible for regulating the market.
In April of this year, the Brazilian investment bank BTG Pactual launched its own cryptocurrency, called BTG Dol, whose trading value is associated with the dollar.
Source: Ambito
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