ONE OF THE BIGGEST HOLDING CORPORATIONS IN BRAZIL IS ALSO LOOKING TO OPEN A TOKENIZATION UNIT IN THE COUNTRY!

One of Brazil’s biggest holding corporations, Itaú Unibanco, has said that it may offer cryptocurrency trading services to its clients. In addition, the business disclosed that it would provide tokenization services through a division for digital assets. This division will enable customers to produce tokens backed by tangible assets and serve as a platform for their trade.

Financial firms are beginning to broaden their product lines by incorporating blockchain- and cryptocurrency-related services. For example, Brazilian financial services and significant holdings corporation Itaú Unibanco has declared that it will start providing tokenization services to its clients. The business will build an entirely new division within its organizational structure called Itaú Digital Assets. The new division will offer tokenization capabilities and serve as an intermediary between businesses looking to move their assets to the blockchain and the market. The company will tokenize assets using the Hyperledger Besu platform. The resulting tokens will only be tradeable on the company’s exchange.

Although no formal reports have been made on this trial, local rumors claim that the corporation has previously conducted tokenization testing, releasing tokens to a small number of private customers and bank personnel. As the leader of the Digital Assets Unit, senior executive Vanessa Fernandes will be in charge of the new initiative.

While providing consumers with tokenization services is the new unit’s primary goal, Fernandes thinks the business may eventually be able to offer more. The CEO remarked that the company was considering providing consumers with bitcoin trading services in the future, but he did not give more information.

The Brazilian Central Bank has announced that experiments on its currency, the central bank digital currency (CBDC), will be conducted this year. In addition, the Brazilian Senate has adopted a cryptocurrency measure that will be reviewed by the deputy chamber, signaling progress in regulating digital assets.