Itaú Unibanco Launches Cryptocurrency Trading Service for Clients

Brazilian bank Itaú Unibanco has introduced a cryptocurrency trading service for its clients as part of its investment platform. The largest bank in Brazil and one of the top lenders in Latin America, Itaú is starting crypto trading with Bitcoin and Ether. Guto Antunes, the head of digital assets at Itaú, revealed that the bank plans to offer additional cryptocurrencies for trading in the future. As the custodian for the crypto trading service, Itaú Bank will store crypto assets on behalf of its clients. However, initially the bank's clients will not be able to deposit and withdraw cryptocurrency using external wallets. Antunes emphasized that keeping money in a bank account provides the security of Itaú's balance sheet for the invested amounts. The news comes as major Brazilian lenders prepare for the nationwide rollout of the digital Brazilian real, with an increasing emphasis on digital assets and related services.

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