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Brazilian Financial Company Itau Unibanco start offeringcryptocurrency

Brazilian financial services and major holdings company Ita Unibanco has announced that it would begin providing tokenization services to its clients.

Brazilian Financial

Brazilian Financial Company Itau 

Unibanco starts offering cryptocurrency services in Brazil

Itaú Unibanco, one of the largest holding companies in Brazil, has announced that it may offer cryptocurrency trading services to its clients. The company disclosed that it would also provide tokenization services through a division for digital assets. This division will enable clients to issue tokens backed by real assets and serve as a platform for their trade.

Brazilian financial services and major holdings company Ita Unibanco has announced that it would begin providing tokenization services to its clients. To do this, the company will build a completely new division inside its management structure called Ita Digital Assets, which will offer tokenization capabilities and serve as an intermediary between businesses looking to move their assets to the blockchain and the market. The company will tokenize assets using the Hyperledger Besu platform, and the resulting tokens will only be tradeable on the company's exchange.

Local rumors claim that the company has previously conducted tokenization trials, providing tokens to a small number of private clients and bank personnel, however, no formal reports on these trials have been issued. As the head of the Digital Assets Unit, Vanessa Fernandes, a senior executive at the company, will be in charge of the new endeavor.

Although the new unit's primary goal is to provide tokenization services to its clients, Fernandes thinks that the business may eventually be able to provide more in the future. The executive said that the company was thinking about providing cryptocurrency trading services to consumers in the future, but he did not provide any further information.

Itaú is the most recent in line of Brazilian businesses that are looking for opportunities in the cryptocurrency trading industry. In a recent announcement, Picpay, one of the most well-known digital wallet and payment service providers in Brazil, announced it will begin providing cryptocurrency trading and payment services in August. Similar trading services were also introduced in May by Nubank, another digital bank located in Brazil.

According to the Central Bank of Brazil, experiments on its own currency, a central bank digital currency (CBDC), will be conducted this year. The Brazilian Senate has adopted a cryptocurrency measure that will be reviewed by the lower chamber, signaling progress in the regulation of digital assets.


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