Brazil’s largest bank Itaú Unibanco launches Bitcoin trading — Report

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Brazilian bank Itaú Unibanco has reportedly launched a cryptocurrency trading service for its clients as part of its investment platform.

Brazilian bank Itaú Unibanco has launched a cryptocurrency trading service for its clients as part of its investment platform, Reuters reported on Dec.

Itaú, the largest bank by assets in Brazil and one of the leading lenders in Latin America, is debuting crypto trading with Bitcoin (BTC) and Ether (ETH), digital asset head Guto Antunes reportedly said.

Itaú Bank will serve as the cryptocurrency custodian for the crypto trading service, meaning that it will store crypto assets for its clients.

“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.”

Itaú Unibanco didn’t immediately respond to Cointelegraph’s request to comment.

Related: Swiss crypto bank Seba rebrands to Amina amid global expansion

The news comes as Brazil’s biggest lenders — including Itaú Unibanco, BTG Pactual and Santander Brasil — are reportedly ramping up headcount and adding resources in preparation for the nationwide rollout of the digital Brazilian real, called the Drex.

It’s been about a month since two local players announced they were leaving the crypto market.

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