🎉Brazil 🇧🇷: Itaú Unibanco Expands Bitcoin and Ethereum Trading for All Customers

🎉Brazil 🇧🇷: Itaú Unibanco Expands Bitcoin and Ethereum Trading for All Customers

Latin America's largest private bank, Itaú Unibanco, began offering cryptocurrency trading through its investment platform Ion in December 2023. Initially, this service was limited to select customers, but now all of Itaú's 60 million clients can use it.

➡️ Buying and Selling: Transactions are conducted through individual digital wallets. This wallet has already been downloaded more than 3.5 million times on both Android and iOS. The selection of cryptocurrencies will be expanded in the future.

➡️ Security: The payment solution was developed considering Itaú's architecture and fiduciary responsibility. The security of the wallets is guaranteed by Itaú's in-house developers, with support from the tokenization company Liqi.

➡️ Context: From January to early May 2024, the cryptocurrency trading volume in Brazilian reais reached 6 billion USD, a 30% increase compared to the previous year. This is the highest level in the region.

➡️ Regulation: The Central Bank of Brazil plans to implement regulations in stages. Currently, it has been established that cryptocurrency exchanges must report all transactions to the National Tax Service (Renta). New regulatory proposals are expected by the end of this year.

👉👉👉 Additionally: Since April 18, 2024, it is prohibited to use cryptocurrencies and credit cards for payments related to slot machines and sports betting. Therefore, Itaú's new offer cannot be used for these purposes.

#news #Brazil #crypto