Brazil-based Itau Unibanco bank will Offer Crypto Currency Storage Service in 2023. Itau Unibanco, one of Brazil’s largest banks, has announced that it will offer a cryptocurrency holding service in 2023. Itau Digital Assets, the company’s cryptocurrency company, will be responsible for this offering, which will first be available to bank market and help others. like work.
Brazilian bank Itau Unibanco will launch a cryptocurrency offering
Itau Unibanco, one of the largest private banks in Brazil and Latin America, has decided to get involved in crypto-related services. The company announced on November 17, 2022 that it plans to launch a cryptocurrency holding service in 2023. Itau Digital Assets, a division of the company responsible for all things crypto, will be responsible for the technology behind this solution.
For Itau Unibanco, security services are an important part of the security system that other companies can provide to employees. In this regard, the product manager of Itau Unibanco, Eric Alftafim, told O Globo: “Custody is a fundamental element in this context, because, especially in a new market like crypto assets, it brings security to investors. We will safeguard customer assets in a reliable environment.”
The cryptocurrency holding service will be implemented on two fronts. The first phase will enable the bank’s customers to access these services. The second phase will extend these services to others, including other companies and institutions. Itau Unibanco plans to launch its holding solution in the second quarter of 2023. However, the company did not disclose the value of its proposed solution.
If Itau Unibanco is one of the first banks to announce this type of service, it is not the first in Brazil. BTG Pactual, another company based in Brazil, launched its cryptocurrency holding service as part of the launch of its own crypto exchange, called mint, in August.
Itaau Cryptocurrency Travel
This is not the first time Itau Unibanco is dealing with crypto. The company has announced that it may introduce cryptocurrency trading for its customers on July 14. Similarly, the bank also operates a tokenization unit, which allows customers to issue tokens that represent real world assets on the bank’s exchange.
Itau Unibanco is also part of this year’s LIFT laboratory, where different companies offer their services in terms of creating the current financial system. The company was selected to present a real pegged stablecoin solution that can facilitate the rapid exchange between tokens representing other fiat currencies in an environment of decentralized assets.
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