Brazil’s largest bank Itaú says it’s considering launching a stablecoin, but is waiting to see the outcome of the central bank’s consultation on the topic, the Valor Econômico newspaper reported.
It was always on Itaú’s radar this stablecoin issue. We cannot ignore the strength that blockchain has to settle transactions in an atomic way,” said Guto Antunes, head of digital assets of Itaú, at a bank event in São Paulo. The newspaper argued that banks are particularly interested because the Trump administration won’t be pursuing a central bank digital currency (CBDC).
The bank is also a participant in DREX, Brazil’s wholesale CBDC initiative, which involves commercial banks issuing tokenized deposits on a shared ledger. It’s been experimenting with blockchain for years, including a DeFi foreign exchange trial in 2022. It launched cryptocurrency trading more than a year ago.
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