The ITAú Asset Management, Brazil’s largest private asset manager, created a dedicated crypto division and was appointed former hashdex executive João Marco Braga da Cunha to lead the new unit.
The unit forms the The existing crypto products of itaú asset. The ITAú asset manages more than 1 trillion reais ($ 185 billion) in property for its clients.
“The crypto asset segment has a unique feature for the development of Alpha. It’s a relatively new market that creates major opportunities because of its volatility,” Cunha said. He had previously served as director of portfolio management at Hashdex, the Brazil company behind one in the country First Crypto ETF.
https://www.youtube.com/watch?v=Cl1NV-uxag0
The transition increases with Itaú’s broader push to digital assets. The bank offers direct trading of 10 pairs of cryptocurrencies through its mobile app, including Bitcoin, Ether, Solana and USD coins, with a caution to handle indoors.
The ITAú asset said the new division will develop additional crypto products, from frozen-style-style instruments to higher speed techniques such as derivatives and staking-based funds. The unit will operate within the structure of the company’s fellow funds, overseeing more than 117 billion reais throughout 15 investment desks.
Related: Brazil’s lower house to listen to the creation of the National Bitcoin Reserve
Brazil led the region to the Crypto adoption
Brazil has appeared as one of the largest crypto markets in the world, Ranning 10th worldwide in chainalysis’ “2024 Global Crypto Adoption Index.”
Growth is driven by a supporting regulation framework. In 2023 Brazil implemented the first Comprehensive Crypto Law.
After the law took place, itaú Uniboco C launchedRypto trading for retail clients In December 2023, initially offered trade for Bitcoin (Btc) and ether (Eth) Inside its mobile app, with the care of the property -provided by the bank directly.
In February 2025, the Brazil regulator approved the first country Spot XRP ETF from Hashdex. Around the same time, the local Braza Bank lender announced plans to issue a truly pegged stablecoin to the Ripple’s XRP Ledger.
However, some regulation uncertainty remains in the country. In June, Brazil introduced Tax reform It replaced the progressive model with a flat 17.5% tax on all those obtained in the crypto capital.
The policy has removed the long exemption allowing up to 35,000 reais ($ 6,500) in monthly tax-free sales and extended to self-conssydy, offshore holdings, defi and NFTS transactions, including staking yields.
EO is faced with immediate backlash and revoked later in the same month.
Magazine: move to Portugal to be a crypto digital nomad – everything else
