Brazil’s largest bank, Itaú Unibanco, has announced the launch of its cryptocurrency trading service for all users, as reported by Valor.
On December 4, 2023, Itaú Unibanco began offering cryptocurrency trading services to a select group of users through its investment platform. This service is now available to all users.
Customers of Itaú Unibanco can buy and sell Bitcoin (BTC) and Ethereum (ETH) through the bank’s investment platform, known as Ion.
At the time of writing, BTC and ETH are the only cryptocurrencies available for trading, but the bank plans to support additional cryptocurrencies in the future.
The addition of new cryptocurrencies will depend on local cryptocurrency regulations. Itaú Unibanco is currently awaiting regulations from Brazil’s central bank regarding the handling of stablecoins.
As Brazil’s largest bank, serving over 60 million customers, Itaú Unibanco’s move could significantly increase cryptocurrency trading activity in Brazil and throughout the Latin American region.
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