Itaú Unibanco has opened crypto trading to all users of its Íon investment platform, allowing clients to buy and sell Bitcoin and Ethereum directly through the app.
The biggest financial institution in Latin America, Itaú Unibanco, has expanded access to crypto trading on its investment platform Íon, making Bitcoin (BTCEthereum (ETHThe platform is available for all users that download its app.
It is a good idea to get an overview of the different types of interview with Brazilian newspaper Valor Econômico, Guto Anunnis, head of Itaú Digital Assets, revealed that the bank’s decision followed weekly surveys with an initial group of clients, which showed strong support for crypto-related products. Antunes emphasized that Itaú opted to develop the security for clients’ crypto wallets internally rather than outsourcing it.
“We have a participation and partnership with Liqi, but nothing regarding custody. The entire custody solution was designed and implemented within Itaú with our fiduciary duty in mind.”
Guto Antunes
While the bank didn’t disclose the number of Íon users, the report notes that the app has surpassed 3.5 million downloads across Android and iOS devices, which Antunes described as “significant for the crypto space and surprising.”
Despite high demand, BTC and ETH will initially be the only two cryptocurrencies available to users. Antunes acknowledged that customers are asking for additional tokens. These are being considered pending an assessment of regulatory risks. Concerning stablecoins, Antunes said that Itaú is waiting for clear regulations from Brazil’s central bank without elaborating on the timeframe.
Itaú Unibanco first entered In late 2023 the bank will launch services to select clients. The bank wants to be a competitor in Brazil with entities such as the crypto exchange Mynt and BTG Pactual, BTG Pactual’s digital asset unit Mynt.
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Source: crypto.news