brazilthe largest bank of Opened cryptocurrency trading It allows all users of its investment platform to sell Bitcoin and Ethereum directly.
Itau Unibanco chief executive Guto Antunes said the decision was made following numerous surveys and discussions with customers that showed strong support for cryptocurrency financial products. Antunes said an important point is that Itau Unibanco developed the transaction infrastructure and virtual crypto wallet in-house rather than outsourcing it.
Itaú’s latest report shows that its trading app has over 3.5 million downloads. Antunes explained that there is a lot of interest for crypto trading among its customer base, but a regulatory risk assessment by Brazilian authorities must first clear the way for both cryptocurrencies and stablecoins.
Itaú Unibanco is a new but aggressive player in the crypto market, joining the crypto market with a move to offer concierge services to select clients in late 2023. The launch of its Ion trading app signals broader intentions to compete with global cryptocurrency exchanges such as MB, BTG, Mynt, and Binance.
Featured image via Ideogram
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