Itaú Unibanco, Brazil and Latin America's biggest bank, has opened Bitcoin and crypto trading to over 60 million customers, signaling a significant step towards mainstream adoption in the region.
The move followed weekly surveys, with initial users showing strong demand for Bitcoin and crypto services. Itaú's Ion app, where the service is offered, has surpassed 3.5 million downloads, indicating significant interest in cryptocurrencies in Brazil.
Itaú opted to build its custody solution for clients' wallets internally. Each user gets a separate wallet to ensure asset segregation, a strategic move showing the bank's commitment to security and control over the crypto services.
Itaú Unibanco's decision to embrace Bitcoin and crypto signifies a major milestone in financial mainstreaming. The move also validates Bitcoin as a sustainable investment tool, potentially paving the way for more banks in the region to follow suit.
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