Brazilian Bank Launches Crypto Trading Services
Itau Unibanco, Latin America’s largest private sector lender, has launched a crypto trading service on its investment platform. The service will initially allow customers to trade Bitcoin and Ethereum, but the bank plans to add other options soon.
Itau Unibanco competes with other crypto-native companies in Brazil, including MB, Binance, and BTG Pactual’s digital assets subsidiary Mynt. The bank’s value is around $439.5 billion and it posted a recurring net profit of $151 million in the 2023 April-to-June period.
(With inputs from Shikha Singh)
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