Exploring Itaú Unibanco’s Foray into Cryptocurrency Trading and Secure Custodianship
Brazil’s largest bank, Itaú Unibanco, has stepped into the world of cryptocurrency by launching a trading service for its clients as part of its investment platform. According to a Dec. 4 report by Reuters, Itaú, the top bank in Brazil by assets and a major player in Latin America, is kicking off crypto trading with Bitcoin (BTC) and Ether (ETH). Guto Antunes, the head of digital assets, expressed the bank’s intention to expand the range of tradable cryptocurrencies in the future.
Functioning as the custodian for this service, Itaú Bank will securely store clients’ crypto assets. Initially, clients won’t have the option to deposit or withdraw cryptocurrencies using external wallets, as mentioned by Antunes. He underscored the security provided by Itau’s balance sheet when funds are held in the bank account.
Read More… [Source: Cointelegraph.com]
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