The famous Brazilian bank Itaú Unibanco has launched a bitcoin and ether trading service for clients of its investment platform, confirming its readiness to become a full-fledged participant in the growing cryptocurrency market in Brazil.

Guto Antunes, head of digital assets at Itaú Unibanco, said that initially the new service will allow trading of the two most popular cryptocurrencies. In the future, the bank plans to add support for other digital assets. This will depend on how regulation of the crypto industry develops in the country.

The introduction of cryptocurrency trading services will be gradual, Antunes noted. Itaú Unibanco prefers to take a cautious approach in order to comply with financial laws and provide a secure environment for digital asset transactions. Antunes emphasized that the bank is committed to offering digital finance solutions that comply with regulatory requirements.

Meanwhile, other Brazilian financial companies are choosing to close their cryptocurrency services to their clients. Thus, brokerage and investment company XP did not explain the reasons for closing its crypto service, but financial services company PicPay cited uncertainty in the regulation of cryptocurrencies.

Let us recall that last year Itaú Unibanco announced the creation of a special division, Itaú Digital Assets, to provide tokenization services using the Hyperledger Besu platform.