Itaú Unibanco registers crypto services in Brazil

Itaú Unibanco is the first Brazilian bank to register crypto trading and custody services, covering 15 cryptocurrencies under new regulations.

Itaú Unibanco, Brazil’s largest private bank, has become the first in the country to officially register its cryptocurrency trading and custody services with the central bank. This move comes under Brazil’s new digital asset regulations, with Itaú submitting its notification before the October 30 compliance deadline. The registration covers services launched in December 2023, allowing customers to trade and hold 15 cryptocurrencies—including Bitcoin, Ethereum, Solana, XRP, and USDC—with investments starting from 10 Brazilian reais. As a pre-authorized financial institution, Itaú was able to notify regulators instead of applying for a new license, a requirement for dedicated crypto providers. This step brings Itaú’s crypto operations into compliance with Resolution 520, which mandates independent technical certification and formal notification for eligible banks. While Itaú has not disclosed customer numbers or trading volumes, the bank emphasizes its commitment to customer security in crypto activities.