Brazil’s largest bank Cryptocurrency trading begins Allows you to sell Bitcoin and Ethereum directly to all users of the investment platform.
Guto Antunes, CEO of Itau Unibanco, said the decision was made after a series of surveys and discussions with customers showing strong support for cryptocurrency financial products. Antunes said the key is that Itau Unibanco developed its transaction infrastructure and virtual cryptocurrency wallet in-house rather than outsourcing it.
According to Itau’s latest report, its trading app has been downloaded more than 3.5 million times. Antunues noted that while there is significant appetite for cryptocurrency trading among its customer base, regulatory risk assessments by Brazilian officials must first clear the way for both cryptocurrencies and stablecoins.
Itau Unibanco is a new but aggressive player in the cryptocurrency market, which will engage in a concierge service to screen customers in late 2023. The launch of the Ion trading app signals a broader intention to compete with global cryptocurrency exchanges such as MB, BTG, Mynt and Binance.
Featured image via Ideogram
