The post Brazilian Bank Itau Unibanco Rolls Out Bitcoin and Ethereum Trading Services to Customers  appeared on BitcoinEthereumNews.com.

Reuters said the launch of the BTC and Ether trading services by Unibanco comes a few months after two of the country’s companies exited the crypto market.  Brazilian banking giant Itau Unibanco has joined the crypto bandwagon with the launch of digital asset trading services for customers as part of its investment platforms, Reuters reported Monday, citing an interview with the company’s digital asset head Guto Antunes. According to the report, the financial services company, standing as one of the largest lenders in Latin America, is commencing its foray into the virtual asset market with a focus on two major cryptocurrencies: Bitcoin (BTC) and Ethereum (ETH). Antunes revealed that while the initial offering is centered around the two leading digital assets by market capitalization, the bank’s broader strategic vision involves expanding its crypto services to include a variety of virtual assets in the future. “It starts with Bitcoin, but our overarching strategic plan is to expand to other crypto assets in the future,” he said. Brazil’s Itau Unibanco Bank to Offer Custodial Services to Customers However, the scope of the planned expansion is contingent on the evolution of cryptocurrency regulations within Brazil. Antunes emphasized that the pace and extent of the growth of the new crypto services will be closely tied to how regulatory frameworks unfold in the country. Earlier this year, President Lula da Silva appointed Banco Central do Brasil, the country’s central bank, as the region’s primary regulatory authority overseeing cryptocurrencies. The bank is responsible for monitoring and regulating all digital asset service providers, including Unibanco, which has just rolled out crypto trading services to customers across the nation. The move has placed the bank in direct competition with local crypto companies such as MB, a digital asset trading platform, investment bank BTG digital assets subsidiary Mynt, and…

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Filed under: News - @ December 5, 2023 3:16 am