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Brazil’s largest bank and one of Latin America’s leading credit institutions, Itau Unibanco, announced that it has started Bitcoin and Ethereum trading services for its customers.
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Digital Assets President Guto Antunes emphasized that they want to expand their services in the digital asset field by adding other cryptocurrencies to this service in the future. Antunes stated that Itau provides advanced security for digital assets to its users.
“Our strategic plan is to expand our crypto asset portfolio by closely following the country’s regulations for cryptocurrencies.” Antunes
Itau Unibanco’s entry into crypto trading is positioned as a competitor to local crypto exchanges as well as major international crypto exchanges like Binance.
This step was taken at a critical time when two local companies announced that they were leaving the crypto market. XP, one of Brazil’s largest investment companies, recently terminated its crypto services without giving a reason. Financial services firm PicPay, owned by J&F Holdings, which also houses JBS, announced that it had discontinued its activities due to uncertainties in market regulation.
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