Brazil’s Itaú Unibanco Becomes First Bank to Register Crypto Services

TLDR

• Brazil’s Itaú Unibanco becomes the first bank to file a crypto trading and custody notification under the new rules.
• Itaú Unibanco submitted its notification on October 27, ahead of the October 30 regulatory deadline.
• The bank offers 15 cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, and USDC.
• Itaú allows customers to invest in cryptocurrencies starting at 10 Brazilian reais through its banking platform.
• Brazil’s Resolution 520 requires eligible financial institutions to submit independent technical certification.

Brazil Itaú Unibanco, the country’s largest private bank, notified the central bank of its crypto trading and custody, becoming the first bank to file under new rules. The lender submitted its notice on October 27, ahead of the October 30 deadline. Valor Econômico reported the filing. It covers an existing service, not a new launch. Itaú began offering crypto investments in December 2023.

Brazil Itaú Unibanco Registers Crypto Services

The filing covers both cryptocurrency trading and custody, which means holding digital assets for customers. Brazil’s rules classify firms providing both services as virtual asset brokerages.

Itaú already operates as a central bank-authorized lender. It can notify regulators rather than seek the license required of dedicated crypto providers.

Customers can trade 15 assets through the bank’s app, including Bitcoin, Ether, Solana, XRP, and USDC. Purchases start at 10 Brazilian reais, and Itaú says it holds customers’ assets using its own custody infrastructure. Separately, BNY expanded XRP and RLUSD custody services on October 27.

The bank has not released customer totals or trading volumes for its crypto business. Its website also states that cryptocurrency holdings do not qualify for Brazil’s bank deposit guarantee protection.

Itaú holds customer crypto while users trade through its banking app. The bank says customers do not need to manage private keys themselves.

October 30 Deadline Covers Existing Operators

Resolution 520 took effect on February 2, 2026, giving eligible banks already handling crypto 270 days to file notices. Meanwhile, Tether backed a Latin American payment expansion that includes planned services in Brazil.

Banks must provide independent technical certification confirming compliance with the new standards. The central bank can request further information and may order an institution to stop affected operations within 30 days after formal notice.

Standalone cryptocurrency providers must apply for authorization rather than rely on the bank notification route. Brazilian exchange Mercado Bitcoin has said it intends to seek approval as a crypto brokerage.

Brazil’s rules cover custody, customer safeguards and controls against financial crime. Overseas, Standard Chartered agreed to acquire Zodia Custody on October 21, subject to regulatory clearance. Brazil also plans to restrict authorized institutions from conducting certain crypto transactions with providers lacking local approval starting November 6.

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