Brazil’s largest bank, Itau Unibanco, has launched a crypto trading service and jumped onto the bandwagon for global banks enabling crypto adoption.
Global banks have started offering crypto services to their clients to keep up with the latest technologies. With the trend expanding fast, Itau Unibanco in Brazil has also started a crypto trading service. According to reports, the trading feature will be a part of the bank’s investment platform. Since Itau Unibanco is Brazil’s largest bank in terms of assets, the bank’s move could help in crypto adoption across the country and in South America.
Guto Antunes, who heads Itau Unibanco’s Digital Asset Division, said, “The most important thing is that when you keep your money in the bank account, you will have the guarantee of Itau’s balance sheet as security for the amounts invested.” The assurance from the official could help clients start crypto trading with the bank. Moreover, the bank as their crypto custodian will be an added benefit for them.
Antunes informed the bank that it would start the service with Bitcoin and Ethereum initially and gradually introduce other tokens. Itau Unibanco could now emerge as a leading provider of crypto services in Brazil with the latest update.
Recently, Raiffeisen Bank of Austria also rolled out crypto trading features, citing the growing trends of crypto adoption. Europe, a leading crypto hub of the world, has also made crypto regulations transparent for the industry. On the other hand, global banking corporations like Standard Chartered and DZ have also forayed into digital assets with multiple initiatives.
As banks start offering crypto services, retail clients around the globe could have easier access to the crypto market. As the crypto market is already showing signs of a long-drawn rally, more investors could help it drive further ahead.
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