April 25, 2024

Brazilian bank Itaú Unibanco will start offering tokenization services

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Brazilian Bank Itaú Unibanco to Start Offering Tokenization Services

One of the largest holding and financing companies in Brazil, Itaú Unibanco, involved in the development of the digital real, has announced that it will startOffer tokenization services to their customers.

To this end, the bank will create a special division, Itaú Digital Assets, which willProvide relevant tokenization services and act as an intermediary between companies wishing to bring their assets to the blockchain and become participants in the cryptocurrency market.

Itaú Unibanco will use the Hyperledger Besu platform for tokenization.The company has already conducted testing, issuing tokens to some private customers and bank employees, but official reports have not yet been presented.The head of the division will be the CEO of the company Vanessa Fernandes.

For now, the bank will focus on tokenization services, however, according to Fernandez, in the future, Itaú Unibanco will be able toIn particular, the company is considering providing cryptocurrency trading services.

Recall that at the beginning of the year, the Central Bank of Brazil selected nine companies that will becomeAmong them is Itaú Unibanco.The firms will explore possible use cases for digital currency in the Brazilian market.