Brazil’s largest financial institution Itau Unibanco launches Bitcoin buying and selling — Report

Brazilian financial institution Itau Unibanco has launched a cryptocurrency buying and selling service for its purchasers as a part of its funding platform, Reuters reported on Dec. 4.

Itau, the biggest financial institution by belongings in Brazil and one of many main lenders in Latin America, is debuting crypto buying and selling with Bitcoin (BTC) and Ether (ETH), digital asset head Guto Antunes reportedly stated. Sooner or later, the financial institution plans so as to add extra cryptocurrencies for buying and selling, he famous.

“It begins with Bitcoin, however our overarching strategic plan is to develop to different crypto belongings sooner or later,” Antunes acknowledged, including enlargement would rely upon regulatory developments.

The transfer reportedly comes a few month after two native gamers introduced they had been leaving the crypto market. In line with Reuters, brokerage and funding firm XP lately shut down its crypto providers with out citing its causes. The monetary providers agency PicPay, owned by conglomerate J&F, which additionally controls meatpacker JBS, cited regulatory uncertainties.

Itau Unibanco did not instantly reply to Cointelegraph’s request to remark.

It is a growing story, and additional data will likely be added because it turns into out there.