Itaú Unibanco explores real-pegged stablecoin creation
The bank is awaiting the Central Bank’s consultation to better understand the regulations surrounding stablecoin issuance.
Itaú Unibanco, the largest bank in Brazil and Latin America, is exploring the potential creation of a stablecoin pegged to the Brazilian real. The bank is awaiting regulatory clarity from the Central Bank’s ongoing public consultation on the stablecoin market.
Guto Antunes, Head of Digital Assets at Itaú Unibanco, explained that stablecoins have long been on the bank’s radar. The reason lies in blockchain’s ability to settle transactions efficiently and securely.
Antunes emphasised that understanding how the Central Bank plans to regulate the sector is crucial before moving forward with any stablecoin project. The bank is cautious and seeks a clear regulatory framework to determine how it can proceed.
Antunes also voiced support for the concept of self-custody of stablecoins. He acknowledged potential restrictions in the proposed regulations.
He also suggested a waiver system to allow for controlled self-custody, ensuring transparency and preventing illicit activities.
Itaú Unibanco’s efforts are part of a wider trend in the banking sector. Institutions are increasingly launching their own stablecoins, inspired by the US’s positive approach to digital assets.
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