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Itaú formalizes crypto trading, offering 15 assets including Bitcoin and Ethereum
Itaú Unibanco formalized its crypto trading and custody operations with Brazil's Central Bank, becoming the first financial institution to do so under the new digital asset rules. The service offers 15 assets, including Bitcoin, Ethereum, and USDC.
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What happened
Itaú Unibanco formalized its crypto trading and custody operations with Brazil's Central Bank, becoming the first financial institution to do so under the new digital asset rules. The service offers 15 assets, including Bitcoin, Ethereum, and USDC.
Confirmed
Global impact / market context
A major private bank now holds formal legal standing for crypto services, which cuts regulatory uncertainty for clients and could push rival banks to follow, widening access to digital assets through familiar banking channels.
Analyst inference
Brazil's new framework lets already-authorized banks use a simplified process instead of a full crypto license. Itaú's move signals banks can compete with standalone crypto firms while operating under central bank oversight rather than outside it.
Analyst inference
What to watch
- Itaú submitted its notification on October 27, 2026, ahead of the October 30, 2026 deadline for existing providers, letting it use a simplified process for authorized institutions. Confirmed
- Watch whether other large Brazilian banks notify the Central Bank under the same simplified route, which would show the framework is becoming the standard path for incumbents. Proposed
- Track how the service expands or changes, since formal standing may let Itaú add assets or features, which affects revenue from trading and custody and pressures standalone crypto providers. Analyst inference
Affected assets
- BTC — Bitcoin
- ETH — Ethereum
- USDC — USD Coin