Currently, the bank is supporting Bitcoin and Ethereum transactions, with plans to expand its cryptocurrency offerings in the near future.
On December 4th, Itau Unibanco, the largest bank in terms of assets and one of the leading lenders in Latin America, officially launched cryptocurrency trading services for its customers as part of its investment platform.
At present, this Brazilian bank is facilitating Bitcoin and Ethereum transactions. In the future, they intend to add more types of cryptocurrencies for trading, with the expansion contingent on regulatory developments.
It’s worth noting that Itau Unibanco’s move comes about a month after investment brokerage firm XP and financial services company PicPay, both owned by the J&F Group, announced the closure of their cryptocurrency services. However, the exact reasons for the departure of these two Brazilian giants from the cryptocurrency space have not been disclosed.