Itaú Unibanco, Brazil’s largest bank by assets, is considering issuing its own stablecoin. The bank’s decision depends 75% on the success of U.S. financial institutions with their stablecoin rollouts. Guto Antunes, head of digital assets at Itaú, highlighted the growing momentum behind blockchain-based settlement systems at an industry event in São Paulo. Stablecoins have always been on Itaú’s radar, as blockchain technology offers strong potential for atomic transaction settlements. In Brazil, regulators are currently conducting a public consultation, Consulta Pública No. 111, to determine how stablecoins might integrate into the existing financial system. Itaú is waiting for the central bank to set the rules before moving forward with any internal project. Additionally, concerns have been raised about a proposed ban on self-custody in Brazil’s draft stablecoin regulations. Brazil has also barred major pension funds from investing in cryptocurrencies.
Cointelegraph
@Cointelegraph
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Feb 20 NEW: Brazilian bank, Braza Bank is launching a new stablecoin pegged to the Brazilian Real on Ripple’s blockchain, XRP Ledger.
Mr. Man
@MrManXRP
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Feb 20 Is this picture beginning to make sense?
The BBRL (Brazil) stablecoin is now on deck.
BBRL (Brazil)
JPY Japan
RLUSD
GBP (UK)
CNY (China)
CHF (Switzerland)
北尾吉孝
@yoshitaka_kitao
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Mar 11 Braza Group Announces Launch of BBRL Stablecoin on the XRP Ledger to Strengthen the Brazilian and South American Digital Economies
CryptosRus
@CryptosR_Us
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Mar 31 JUST IN: Brazil’s Central Bank Director Rejects Bill to Establish Bitcoin Reserve
The Brazilian Regulation also barred pension funds from crypto investments.
Mistakes were made.
Cybertechwiz
@cybertechwiz
·
1m Itaú Unibanco is considering launching a stablecoin, carefully evaluating regulations and the experiences of other banks in the cryptocurrency space. #Stablecoin #Expansion #Stablecoin
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