Brazil’s Largest Bank Itaú Unibanco Pursues Crypto Trading, Custody Business in Local First
JOON HYOUNG LEE
Summary
- Brazil’s largest bank, Itaú Unibanco, is pursuing a cryptocurrency trading and custody business.
- Itaú Unibanco said it had formally notified Brazil’s central bank of its plan to enter the cryptocurrency trading and custody business.
- If Itaú Unibanco launches cryptocurrency trading and custody services, it would be the first such case among the country’s banks.
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Itaú Unibanco, Brazil’s largest bank, is pursuing a cryptocurrency trading and custody business.
Odaily reported on October 28 that Itaú Unibanco notified Brazil’s central bank on October 27 that it plans to pursue crypto trading and custody operations. The filing came ahead of the October 30 deadline for registering crypto-related businesses.
Itaú Unibanco is Brazil’s largest bank. If it launches crypto trading and custody services, it would be the first case among the country’s banks.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul