Itaú becomes first Brazilian bank to formalize crypto trading

cryptonews10-28

Itaú Unibanco, Brazil’s largest private bank, has formally registered its cryptocurrency trading and custody activities with the country’s central bank, becoming the first Brazilian bank to complete ...

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Itaú already provides access to 15 digital assets, including Bitcoin, Et","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0229945570.USD":"TEMPLETON BRIC \"A\" (USD) ACC","LU0823046494.USD":"AMUNDI FUNDS LATIN AMERICA EQUITY \"A2\" (USD) ACC","LU0788109048.HKD":"BGF LATIN AMERICAN \"A2\" (HKDHGD) ACC","IE00B1B80R65.USD":"柏瑞拉丁美洲股票A","LU0265266980.USD":"法巴巴西股票基金","LU0086394185.USD":"SCHRODER ISF LATIN AMERICAN \"A\" (USD) INC AV","LU0828237510.HKD":"SCHRODER ISF BIC (BRAZ IN CH)\"A\" (HKD) ACC","LU0256859116.SGD":"施罗德拉丁美洲A Acc SGD","LU0532187761.SGD":"JPMorgan Funds - Brazil Equity A (acc) SGD","LU0228659784.USD":"施罗德金砖四国基金","LU0128526570.USD":"TEMPLETON LATIN AMERICA \"A\" ACC","LU0072463663.USD":"Blackrock Latin American A2 USD","LU0029865408.USD":"TEMPLETON LATIN AMERICA \"A\" INC","LU0572108347.SGD":"Blackrock Latin American A2 SGD-H","LU0456842615.SGD":"JPMorgan Funds - Emerging Markets Equity A (acc) SGD","LU0823046577.USD":"AMUNDI FUNDS LATIN AMERICA EQUITY \"A2\" (USD) INC","ITUB":"艾涛巴西联合银行","BK4207":"综合性银行","LU0320763518.SGD":"FTIF - Templeton Latin America A Acc SGD","LU0050427557.USD":"富达拉丁美洲基金","LU0543330566.HKD":"TEMPLETON BRIC \"A\" (HKD) ACC","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU0106259046.USD":"施罗德拉丁美洲基金"},"translate_title":"Itaú 成为第一家正式化加密货币交易的巴西银行","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ITUB":1.97},"content_text":"Itaú Unibanco, Brazil’s largest private bank, has formally registered its cryptocurrency trading and custody activities with the country’s central bank, becoming the first Brazilian bank to complete the notification process under the new digital asset regulations.\n\n\nSummary\n\n\n\nBrazil’s largest private bank, Itaú Unibanco, has become the first bank in the country to formalize its cryptocurrency trading and custody operations under the new regulations.\nThe bank submitted its notification to the central bank on October 27, ahead of the October 30 deadline, and currently offers 15 digital assets, including Bitcoin, Ethereum, and USDC.\nItaú has offered cryptocurrency trading since December 2023, but the latest filing brings its existing services under Brazil’s new regulatory framework.\nBrazil’s new rules allow already authorized banks to register their crypto services through notification, while dedicated cryptocurrency exchanges must apply for operating authorization.\n\n\n\nAccording to a report by Valor Econômico, the lender submitted its notification on October 27, three days before the October 30 deadline for financial institutions already offering cryptocurrency services to comply with the central bank’s requirements.\nThe filing covers both cryptocurrency trading and custody, which fall under the virtual asset brokerage category established by the regulator. Itaú already provides access to 15 digital assets, including Bitcoin, Ethereum, and the USDC stablecoin, through its investment platform.\nUnlike cryptocurrency exchanges and other dedicated virtual asset service providers, Itaú did not need to apply for a separate operating license because it is already authorized and supervised by Brazil’s central bank.\nItaú crypto trading services have been available since 2023\nAlthough the latest filing formally brings Itaú’s cryptocurrency business under the new regulatory framework, the bank has been offering digital asset investments for nearly three years.\nIts cryptocurrency trading service initially launched in December 2023, allowing customers to purchase Bitcoin and Ethereum through the bank’s Íon investment platform.\nThe service was gradually made available to more customers before Itaú opened cryptocurrency trading to all users of the platform in June 2024.\nAt the time, Guto Antunes, head of Itaú Digital Assets, said the expansion followed customer surveys conducted during the initial rollout, which indicated considerable interest in cryptocurrency investments.\nSince then, the bank has expanded its selection to 15 cryptocurrencies, according to its official investment website.\nDespite operating the service for several years, Itaú has not publicly disclosed how many customers use its cryptocurrency platform or the total value of transactions processed through it.\nIn September, crypto.news previously reported that Brazil’s major banks had been expanding their cryptocurrency offerings, with Nubank providing access to 28 digital assets and Banco do Brasil introducing Bitcoin and Ethereum trading earlier this year.\nCentral bank filings reviewed by Brazilian newspaper Folha de S.Paulo showed that the country’s banks held no cryptocurrencies on their own balance sheets as of March 2026, even as they continued offering trading and custody services to customers.\nItaú has been working on other blockchain applications as well. In August, the bank joined a tokenization pilot organized by Brazilian financial markets association ANBIMA to explore the issuance, trading, and settlement of tokenized bonds and investment funds.\nBrazil’s crypto regulations set different requirements for banks and exchanges\nBrazil’s central bank introduced its new cryptocurrency regulatory framework through a series of resolutions that took effect on February 2, 2026.\nUnder Resolution 520, financial institutions already authorized by the regulator can provide cryptocurrency services through a notification procedure, provided they meet the applicable requirements.\nFor institutions that were already operating when the rules took effect, the central bank established a 270-day transition period ending October 30.\nThe notification must be accompanied by an independent technical certification confirming compliance with the regulator’s requirements, including the operational and security standards applicable to virtual asset services.\nInstitutions that fail to complete the process by the deadline must discontinue their cryptocurrency services within 30 days.\nDedicated cryptocurrency businesses face a different procedure. Exchanges and other virtual asset service providers operating before February 2 must submit formal authorization applications to continue operating under the new rules.\nThe regulatory requirements have already prompted several cryptocurrency companies to reconsider their operations in Brazil.\nA recent report on licensing requirements found that fewer than 10% of cryptocurrency companies were expected to pursue authorization, with smaller businesses facing concerns over compliance costs and capital requirements.\nMeanwhile, Binance submitted its licensing application ahead of the October 30 deadline, joining several other cryptocurrency businesses seeking approval from the central bank.\nMercado Bitcoin, one of Brazil’s largest domestic cryptocurrency exchanges, has similarly indicated that it intends to pursue authorization under the new framework.\nCentral bank sets November deadline for unauthorized crypto providers\nBrazil’s central bank has separately adjusted the timetable governing relationships between regulated financial institutions and cryptocurrency service providers that lack authorization.\nIn September, the regulator issued Resolution 589, moving the start of restrictions on dealings with unauthorized virtual asset providers from October 30 to November 6.\nFrom that date, banks, payment institutions, and other entities supervised by the central bank will generally be prohibited from conducting cryptocurrency transactions with service providers that are neither authorized nor covered by an applicable regulatory exception.\nThe September changes introduced further reporting requirements for cryptocurrency businesses operating during the transition period, including information about customer asset balances, custody holdings, and proof of reserves.\nThose reporting provisions are scheduled to take effect on January 1, 2027, under procedures to be established by the central bank.\nSeparately, Brazil introduced new reporting requirements on October 1 for covered institutions handling cryptocurrency transfers worth at least $10,000 to or from self-custody wallets.\nUnder Resolution 588, qualifying transfers must be reported to the country’s financial intelligence authority, the Council for Financial Activities Control, known as Coaf.\n\n\n\n\n\n                Read more:\n            \n\n                The Nasdaq-100 is onchain. What does a JQQQ holder actually own?","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.1","shortVersion":"4.52.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2678469772","isCrawlerRequest":true}