Brazilian Banking Giant Itaú Formalizes Crypto Role as Brazil Closes Its Licensing Window

Itaú has formally registered with Brazil’s central bank to intermediate and custody crypto assets under the new licensing rules. Itaú Unibanco, the largest private bank in Brazil, has formalized its role as a cryptocurrency service provider before the Central Bank of Brazil. The filing covers intermediation and custody of crypto assets, the same activities the regulator assigns to brokerage firms, according to local reports. The news arrives as the country’s crypto sector faces a compressed timeline to obtain licenses. Itaú’s move places the bank inside a licensing framework that did not exist a year ago.

Source: Bitcoin Magazine