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Itaú Bank Eyes Stablecoin Launch, Awaits Regulatory Approval Itaú Supports Self-Custody Stablecoins with Legal Frameworks Itaú, the largest bank in Brazil, is looking into the possibility of launching its stablecoin. This decision is dependent on the regulatory environment in Brazil and the experiences of U.S. banks with their stablecoins. Stablecoins gained traction when U.S. President Donald Trump decided against issuing a central bank digital currency (CBDC) and instead prioritized private stablecoins. The financial market transformation leads Itaú to focus on this changing industry pattern. Itaú Bank Monitors Global Stablecoin Launches, Plans Own Project Guto Antunes, who leads Itaú Bank’s digital assets team, explained stablecoins have always been under active consideration by their organization. Blockchain technology presents opportunities to streamline financial settlement processes; therefore, the bank monitors stablecoin developments for this reason. The Brazilian Central Bank made its regulatory stance on such assets clearer through its public consultation focused on stablecoins, according to Antunes. The stablecoin market in Brazil experienced rapid growth, as per reports which showed stablecoins composing 90% of all cryptocurrency deals. Brazil’s Central Bank president Gabriel Galipolo stated that stablecoins continue to expand into payment systems while stressing that stablecoins raise regulatory problems because of difficulties managing taxation and stopping money laundering operations. Cryptocurrencies referred to as stablecoins connect to established financial currencies including the U.S. dollar. The stable value of these coins is maintained through holding secure assets as example, U.S. Treasury bonds. The market capitalization of USDT and USDC stablecoins exceeds $200 billion as they represent the largest coins currently available. Several international corporations now develop their stablecoins as part of ongoing experimental activities. PayPal rolled out its stablecoin during 2023 while Fidelity engaged in stablecoin testing in the same year. The bank watches all ongoing developments carefully as it prepares to launch its stablecoin project.…

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Filed under: News - @ April 3, 2025 7:29 pm