Itaú Unibanco crypto brokerage: Brazil’s largest private bank first to formalize under new rules

28 Oct 2026

28 Oct 2026, 11:15 UTC+01:00

Regulation TradeReviewed News Desk

Itaú Unibanco, Brazil’s largest private bank, has formally registered its cryptocurrency trading and custody service under the country’s new digital-asset framework, becoming the first bank in Brazil to do so. The lender filed its notification with the Banco Central do Brasil on Tuesday, according to CoinDesk, which cited local outlet Valor Econômico.

What Itaú filed and why it matters

Under the new rules, banks that the central bank has already authorized can use a lighter notification process to keep offering crypto services. Dedicated crypto companies, known as virtual-asset service providers (VASPs), have to apply for a full operating authorization instead. Because Itaú both executes trades and holds coins for customers, its service falls into the brokerage category of the framework.

Itaú has offered crypto since December 2023. It currently lists 15 assets, including bitcoin, ether and the USDC stablecoin, but has not disclosed how many customers use the service or how much they trade.

The Oct. 30 deadline

The central bank’s Resolution 520 took effect on Feb. 2 and gave eligible institutions that were already active in crypto 270 days to notify the regulator. That window closes on Oct. 30. Each submission has to include an independent technical certification showing the firm meets the requirements. Institutions that miss the deadline must stop providing crypto services within 30 days.

The same date applies to authorization requests from crypto-native firms that were already running when the rules kicked in. Local exchange Mercado Bitcoin has said it is seeking authorization as a virtual-asset brokerage, and we covered Binance’s own Brazil licence application ahead of the same cut-off. In September the central bank also pushed back to Nov. 6 the date after which banks and other authorized institutions may no longer do crypto business with unauthorized providers.

What it means for traders

• A shake-out is coming in Brazil: platforms that do not file by Oct. 30 face a 30-day wind-down, so Brazilian users should check that the app they use has filed or applied.
• Banks are moving in: a large bank offering regulated crypto custody raises the bar for exchanges on compliance, but a 15-coin menu is narrow compared with dedicated platforms.
• Compare before you choose: fees, asset range and security still differ a lot between providers. See our crypto exchange comparison and how we test exchanges. In our testing BingX ranks first and OKX second, and first-time buyers can start with where to buy your first bitcoin.

This article is for information only and is not financial advice.

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Sources

• CoinDesk: Brazil’s largest lender becomes first bank to formalize crypto brokerage under new rules

News is for information only and is not financial advice. More crypto news