Itaú Unibanco Eyes Brazilian Real-Pegged stablecoin Amid Regulatory Review
Itaú Unibanco,Latin America’s largest bank,is considering launching a stablecoin tied to the Brazilian real. The bank is waiting for regulatory guidance from the Central Bank’s ongoing public consultation.
Guto Antunes, the Head of Digital Assets at Itaú Unibanco, highlighted the bank’s interest in stablecoins. “Stablecoins have always been on our radar. We recognize the potential of blockchain for seamless transactions,” he said at a recent event in São Paulo.
Antunes emphasized the importance of the Central Bank’s public consultation (Consultation No. 111) on stablecoins. “We need to understand the regulatory framework before proceeding. The stablecoin market is growing, but we must no the rules,” he explained.
Antunes supports self-custody of stablecoins, a feature that might face restrictions. He proposed a waiver system to balance regulatory access and user control. “Unrestricted self-custody could lead to misuse. We need a controlled approach,” he noted.
This move by Itaú Unibanco reflects a global trend where banks are launching their own stablecoins. The U.S.’s positive stance on private stablecoins, following Trump’s rejection of a central bank digital currency, has inspired this trend.
