Itaú Unibanco becomes Brazil's first bank to formalize crypto brokerage under new regulations

Brazil's largest private bank, Itaú Unibanco, notified the central bank of its cryptocurrency trading and custody operations on Tuesday, ahead of an Oct. 30 compliance deadline. The bank offers 15 cryptoassets including bitcoin, ether and the stablecoin USDC, having launched the service in December 2023. Under the new regulatory framework, authorized banks can notify the regulator, while dedicated crypto providers must apply for operating authorization.