Itaú Unibococo, Brazil’s largest bank by possessions, is explored when issuing itself Stablecoin As the discussions change the regulation and us Financial institutions are slowly moving to the sector.
The decision could ride to how American institutions fare to their Stablecoin rollouts, Guto Antunes, head of digital assets in ITAú said. At an industry event in São Paulo, Antunes mentioned the growing momentum behind the blockchain-based settlement systems.
“Itaú has always had stablecoins on its radar. We cannot believe -the strength that the blockchain must adjust the transactions atomically,” Local media Quoted him saying. Stablecoins, for now, will remain a “topic on the agenda.”
Revised interest in stablecoins came to the heel of a political shift to the US, where lawmakers A Central Bank Digital Currency (CBDC) declined In favor of encouraging private alternative stablecoin to maintain dollar dominance.
In Brazil, regulators conduct a public consultation – Consulta Pública No. 111 – focusing on how stablecoins can fit into the existing financial system. Antunes said the bank is waiting to see what policies the Central Bank set before promoting any internal project.
Antunes also raised concerns about a proposed self-custody ban on draft Brazil Stablecoin rules. Brazil, worth noticing, have obstacles to major pension funds from investing to cryptocurrencies.
