Itaú Becomes First Brazilian Bank to Formalize Crypto Trading and Custody Under New Rules
Itaú Unibanco, Brazil's largest private bank, has formally registered its cryptocurrency trading and custody operations under the country's updated digital asset regulations, becoming the first financial institution to complete the process under the new framework. According to the announcement, The bank notified Brazil's Central Bank on October 27, bringing its existing crypto services within the revised regulatory structure.
The registration covers cryptocurrency intermediation and custody, allowing Itaú to continue offering digital asset services under rules designed to distinguish established financial institutions from independent crypto providers. Itaú entered Brazil's cryptocurrency market in December 2023 and has since expanded its digital asset offerings through its banking platform.
Itaú Registers Crypto Services Under Brazil's New Rules
Brazil's updated regulatory framework establishes different authorization procedures for financial institutions and independent cryptocurrency service providers. Banks that already hold authorization from the Central Bank can provide virtual asset services through a formal notification process, while crypto companies without existing banking authorization must obtain separate approval to operate.
Itaú completed its notification on October 27, formally placing its cryptocurrency brokerage and custody activities under the new requirements. The process allows the bank to register these services without applying for a separate operating authorization under the framework described in the announcement.
The development represents a regulatory milestone for the bank as Brazil implements its updated approach to digital asset services. Itaú is also Latin America's largest bank by market value, with an established presence in traditional financial services.
Itaú Supports More Than 14 Cryptocurrencies
Since launching cryptocurrency trading in December 2023, Itaú has expanded its selection to more than 14 digital assets. Supported cryptocurrencies include Bitcoin, Ether and USDC, a stablecoin pegged to the United States dollar.
Beyond facilitating cryptocurrency transactions, the bank offers custody services that allow customers to hold digital assets through its financial infrastructure. The latest regulatory notification covers both brokerage and custody, bringing these activities under Brazil's updated digital asset rules.
Security and Governance Remain Key Priorities
Itaú has identified customer security as a central consideration in its cryptocurrency business. The bank has also emphasized the importance of clear regulations in establishing a more structured environment for financial institutions and companies operating in the digital asset sector.
According to the announcement, strong governance and security standards are important to supporting wider cryptocurrency adoption across Brazil's financial industry. Itaú also views regulatory clarity as a foundation for the continued development of digital asset services in Brazil and internationally.
The framework applies different authorization and supervisory procedures to established banks and independent cryptocurrency providers. Itaú's notification marks the first formal registration of these activities by a financial institution under the country's new rules, while its existing trading and custody services continue under the updated regulatory structure.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.