Brazilian bank Itau Unibanco has launched a new service allowing clients to trade cryptocurrencies, as reported by Reuters. Initially, the bank will offer the ability to work with Bitcoin and Ethereum, with plans to add other cryptocurrencies in the future.

Bank representative Guto Antunes explained that the initial focus will be on Bitcoin, but the bank's strategic plan includes expanding the list of available crypto assets. He also noted that further expansion of the digital currency portfolio will depend on changes in the country's regulatory policy.

Antunes emphasized the bank's role as a custodian, responsible for client funds.

Recall, in December 2022, the Brazilian government recognized Bitcoin as a means of payment and an investment asset. In February, Brazil's oldest bank allowed tax payments using cryptocurrency. In April, financial institution BTG Pactual introduced the dollar-based BTG Dol on the Polygon blockchain.