{"id":14678,"date":"2022-11-21T13:31:50","date_gmt":"2022-11-21T13:31:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/brazilian-bank-itau-unibanco-to-offer-cryptocurrency-custody-services-in-2023-news-bitcoin-news\/"},"modified":"2022-11-21T13:31:50","modified_gmt":"2022-11-21T13:31:50","slug":"brazilian-bank-itau-unibanco-to-offer-cryptocurrency-custody-services-in-2023-news-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/brazilian-bank-itau-unibanco-to-offer-cryptocurrency-custody-services-in-2023-news-bitcoin-news\/","title":{"rendered":"Brazilian Bank Itau Unibanco to Offer Cryptocurrency Custody Services in 2023 \u2013 News Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div id=\"\">\n<header class=\"article__header\">\n<\/header>\n<div class=\"featured_image_container\">\n<\/div>\n<p><strong>Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties as a service.<\/strong><\/p>\n<h2>Brazilian Bank Itau Unibanco to Debut Crypto Custody Offering<\/h2>\n<p>Itau Unibanco, one of the largest private banks in Brazil and Latam, has decided to step into the crypto-related services business. The company announced on Nov. 17, 2022, that it plans to launch cryptocurrency custody services in 2023. Itau Digital Assets, the division of the company that deals with all things crypto, will be in charge of the tech behind this solution.<\/p>\n<p>For Itau Unibanco, custody services are an important part of the security framework that third-party companies can offer users. On this, Itau Unibanco\u2019s product manager Eric Alftafim <a href=\"https:\/\/valor.globo.com\/financas\/criptomoedas\/noticia\/2022\/11\/17\/ita-digital-asset-troca-comando-e-passa-a-oferecer-custdia-de-criptoaticos.ghtml\" target=\"_blank\" rel=\"noopener\">told<\/a> O Globo:<\/p>\n<blockquote>\n<p>Custody is a fundamental element in this context, because, especially in a new market like crypto assets, it brings security to investors. We will safeguard customer assets in a reliable environment.<\/p>\n<\/blockquote>\n<p>The cryptocurrency custody service will be implemented in two phases. The first phase will allow customers of the bank to contract these services. The second phase will extend these services to third parties including other companies and institutions. Itau Unibanco expects to launch its custody solution in Q2 2023. However, the company did not reveal the assets supported by its solution.<\/p>\n<p>While Itau Unibanco is one of the first banks to announce this kind of service, it is not the first in Brazil. BTG Pactual, another institution in Brazil, <a href=\"https:\/\/www.prnewswire.com\/news-releases\/btg-pactual-presents-the-mynt-crypto-asset-platform-301607780.html\" target=\"_blank\" rel=\"noopener\">debuted<\/a> its cryptocurrency custody services as part of the launch of its own crypto exchange, called mint, in August.<\/p>\n<h2>Itau\u2019s Cryptocurrency Journey<\/h2>\n<p>This is not the first time that Itau Unibanco flirts with crypto. The company <a href=\"https:\/\/news.bitcoin.com\/itau-unibanco-mulls-offering-crypto-services-opens-tokenization-unit-in-brazil\/\" target=\"_blank\" rel=\"noopener\">announced<\/a> that it might introduce cryptocurrency trading for its customers on July 14. In the same way, the bank is also operating a tokenization unit, that allows customers to issue tokens representing real-world assets in the bank\u2019s own exchange.<\/p>\n<p>Itau Unibanco is also part of this year\u2019s LIFT Lab, where a series of institutions present their projects with the idea of innovating the current finance system. The company was <a href=\"https:\/\/news.bitcoin.com\/itau-unibanco-selected-by-central-bank-of-brazil-to-build-real-pegged-stablecoin-solution\/\" target=\"_blank\" rel=\"noopener\">selected<\/a> to present a Brazilian real pegged stablecoin solution, that could allow for quick exchange between tokens representing other fiat currencies in a decentralized finance environment.<\/p>\n<p><em><strong>What do you think about Itau Unibanco\u2019s new cryptocurrency custody service? Tell us in the comment section below.<\/strong><\/em><\/p>\n<div class=\"article__body__author\">\n<div class=\"article__body__author__avatar\">\n<img src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/04\/img_20220427_085821_931.jpg\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/04\/img_20220427_085821_931.jpg 1x, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/04\/img_20220427_085821_931.jpg 2x\" class=\"avatar avatar-150 photo\"\/><\/div>\n<div class=\"article__body__author__info\">\n<h6 class=\"article__body__author__info__name\">\nSergio Goschenko <\/h6>\n<p class=\"article__body__author__info__about\">\nSergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.<\/p>\n<\/div>\n<\/div>\n<p class=\"images_credits\"><em><b>Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, ERGIO V S RANGEL, Shutterstock.com<\/em><\/p>\n<div class=\"disclaimer\">\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. <a href=\"https:\/\/bitcoin.com\">Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n<div class=\"bottom_article_widgets\">\n<aside id=\"bn_widget_spacing-18\" class=\"td_block_template_1 widget widget_bn_widget_spacing\"\/>\n<aside id=\"custom_html-21\" class=\"widget_text td_block_template_1 widget widget_custom_html\">\n<h4 class=\"block-title\"><span>More Popular News<\/span><\/h4>\n<\/aside>\n<aside id=\"bn_widget_spacing-19\" class=\"td_block_template_1 widget widget_bn_widget_spacing\"\/>\n<aside id=\"custom_html-46\" class=\"widget_text td_block_template_1 widget widget_custom_html\"\/>\n<aside id=\"bn_widget_spacing-20\" class=\"td_block_template_1 widget widget_bn_widget_spacing\"\/>\n<aside id=\"custom_html-30\" class=\"widget_text td_block_template_1 widget widget_custom_html\">\n<h4 class=\"block-title\"><span>In Case You Missed It<\/span><\/h4>\n<\/aside>\n<\/div>\n<\/div>\n<p><script>(function(d, s, id) {\n        var js, fjs = d.getElementsByTagName(s)[0];\n        if (d.getElementById(id)) return;\n        js = d.createElement(s); js.id = id;\n        js.src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&version=v3.2\";\n        fjs.parentNode.insertBefore(js, fjs);\n    }(document, 'script', 'facebook-jssdk'));<\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/brazilian-bank-itau-unibanco-to-offer-cryptocurrency-custody-services-in-2023\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Itau Unibanco, one of the biggest Brazilian banks, has announced it will offer cryptocurrency custody services in 2023. Itau Digital Assets, the cryptocurrency unit of the company, will be responsible for this offering, which will be first available to customers of the bank, and then to third parties [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":14679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14678"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14678"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14678\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14679"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}