Itau Unibanco, one of the largest private banks in Brazil and Latam, announced on Nov. 17 that it plans to offer cryptocurrency custody services in 2023.
Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service.Itau Unibanco, one of the largest private banks in Brazil and Latam, has decided to step into the crypto-related services business. The company announced on Nov. 17, 2022, that it plans to launch cryptocurrency custody services in 2023.
The cryptocurrency custody service will be implemented in two phases. The first phase will allow customers of the bank to contract these services. The second phase will extend these services to third parties including other companies and institutions. Itau Unibanco expects to launch its custody solution in Q2 2023. However, the company did not reveal the assets supported by its solution.
its cryptocurrency custody services as part of the launch of its own crypto exchange, called mint, in August.that it might introduce cryptocurrency trading for its customers on July 14. In the same way, the bank is also operating a tokenization unit, that allows customers to issue tokens representing real-world assets in the bank’s own exchange.
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