Monday, March 4, 2024

Brazil’s largest bank Itau Unibanco launches Bitcoin trading — Report

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Brazilian bank Itau Unibanco has launched a cryptocurrency trading service for its purchasers as a part of its funding platform, Reuters reported on Dec. 4.

Itau, the largest bank by belongings in Brazil and one of many main lenders in Latin America, is debuting crypto trading with Bitcoin (BTC) and Ether (ETH), digital asset head Guto Antunes reportedly stated. Sooner or later, the bank plans so as to add extra cryptocurrencies for trading, he famous.

“It begins with Bitcoin, however our overarching strategic plan is to increase to different crypto belongings sooner or later,” Antunes acknowledged, including enlargement would depend upon regulatory developments.

The transfer reportedly comes a few month after two native gamers introduced they have been leaving the crypto market. Based on Reuters, brokerage and funding firm XP just lately shut down its crypto companies with out citing its causes. The monetary companies agency PicPay, owned by conglomerate J&F, which additionally controls meatpacker JBS, cited regulatory uncertainties.

Itau Unibanco did not instantly reply to Cointelegraph’s request to remark.

This can be a growing story, and additional data can be added because it turns into obtainable.