{"id":231633,"date":"2024-06-12T23:00:07","date_gmt":"2024-06-12T23:00:07","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/12\/brazils-biggest-bank-opens-investment-app-to-crypto-trades\/"},"modified":"2025-06-25T17:17:15","modified_gmt":"2025-06-25T17:17:15","slug":"brazils-biggest-bank-opens-investment-app-to-crypto-trades","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/06\/12\/brazils-biggest-bank-opens-investment-app-to-crypto-trades\/","title":{"rendered":"Brazil’s biggest bank opens investment app to crypto trades"},"content":{"rendered":"

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Brazil<\/a>\u2019s largest bank has opened up cryptocurrency trading<\/a> to all users of its investment platform, allowing them to sell Bitcoin and Ethereum directly.<\/p>\n

Guto Antunes, the chief executive of Itau Unibanco, said the decision came after a series of surveys and discussions with clients that showed a strong support for cryptocurrency financial products. A key point, Antunes said, is that Itau Unibanco developed the transaction infrastructure and virtual crypto wallets itself, rather than outsource it.<\/p>\n

Itau\u2019s latest report notes that its trading app has more than 3.5 million downloads. Antunues noted that there is significant appetite for crypto trading among its customer base but a regulatory risk assessment from Brazilian officials must clear the way first, both for cryptocurrency as well as stablecoins.<\/p>\n

Itau Unibanco is a new but aggressive player in the crypto market, getting involved in late 2023 with concierge services to select customers. The launch of its Ion trading app signals a broader intent to compete in global cryptocurrency exchanges such as MB, BTG, Mynt, and Binance.<\/p>\n

Featured image via Ideogram<\/strong><\/em><\/p>\n<\/p><\/div>\n

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