Brazil’s largest bank expands Bitcoin and Ether trading to all customers

-

Itaú Unibanco, one of Latin America’s largest private banks, has expanded its Bitcoin and Ether trading services to all customers.

Crypto trading for everyone

Itaú Unibanco, based in Brazil and serving over 60 million customers, began offering cryptocurrency trading through its investment platform ‘Ion’ in December 2023.

Initially, this service was available only to selected clients, but the bank has now made it accessible to all users who download the platform’s app.

Guto Antunes, head of Itaú Digital Assets, confirmed this expansion in a recent interview, and told the press that weekly surveys showed that customers trusted Itaú’s in-house custody solution for their crypto assets.

Wallet safety and compliance

The bank developed its own tool to ensure the safety of customers’ crypto wallets, without relying on third-party services.

They received development support from tokenizer Liqi but maintained full control over the custody solution, and Antunes highlighted Itaú’s commitment to secure and reliable crypto services.

“We have a stake and a partnership with Liqi, but nothing in terms of custody.”

To comply with asset segregation requirements set by Brazil’s Central Bank, Itaú created a separate digital wallet for each client, while the country’s central bank is working on a segmented approach to crypto regulation, with proposals expected by the end of the year.

Antunes noted that the bank’s ‘Ion’ app had over 3.5 million downloads, a pretty big number for the crypto market, even during the initial phased rollout.

Conquering markets

Itaú currently supports Bitcoin and Ether trading but plans to include other cryptocurrencies based on customer demand and regulatory risk assessments, and the bank is also awaiting clear rules on stablecoin operations in Brazil from the central bank.

Antunes emphasized Itaú’s alignment with the central bank in developing proper regulations to ensure sustainable growth.

He also mentioned that training managers to advise clients on crypto assets was a challenge, and to address this, Itaú created an AI chatbot to assist experts and managers in understanding customer questions.

By expanding its crypto trading services and ensuring regulatory compliance, Itaú Unibanco is positioning itself as a major player in the digital asset market not just in Brazil, but in the wider Latam region too.

Have you read it yet? Now is the right time to buy Bitcoin?

LATEST POSTS

Peter Brandt drops a truth bomb and says day trading Bitcoin is a losing game

The veteran trader with decades under his belt, is shaking up the Bitcoin scene. Forget the hype about day trading and chasing those quick wins...

New rules bring new headaches for crypto traders in Turkey

Turkey, the land of ancient ruins and bustling bazaars just dropped a hammer on the crypto market. They’ve rolled out a whole new set of...

Ethereum to $10,000?

Today’s crazy prediction is that Ethereum might be gearing up for a comeback story worthy of the big leagues. Ted Pillows, a savvy crypto analyst,...

Coinbase breaks big, after the S&P 500, here is the TIME100 list

Coinbase just landed itself a spot on TIME magazine’s 2025 TIME100 Most Influential Companies. And if that wasn’t enough, they’ve also strutted right into the...

Most Popular

Guest posts