Brazil’s largest commercial bank Itaú Unibanco plans to establish a platform where physical assets can be converted into digital tokens.
According to the statement made today, the platform to be established by Itaú Unibanco Custody services for crypto assets will also be provided.
Established within Itaú Unibanco and called Itaú Digital Assets, it was first to corporate customersfrom the end of this year to individual customers will serve.
New unit to be established by IItaú Unibanco legal compliance and technology Vanessa Fernandez, who is experienced in the field, will lead the way.
The Central Bank of Brazil, in the next month of this year central bank digital currency (CBDC) started to cooperate with nine institutions to contribute to its work. Among them was Itaú Unibanco.
Itaú Unibanco, in total over the past year $4.5 billion in revenue achieved. Its closest competitor, Bradesco, had a revenue of $4 billion.