Itau Unibanco, Brazilian Company Will Start Tokenization. Itaú Unibanco, one of Brazil’s largest holding companies, has announced it is considering offering cryptocurrency trading services to its customers.
Reporting from Bitcoin.com, written on Sunday (17/7/2022), the company announced that it will offer tokenization services through a digital asset unit, which will allow customers to issue tokens backed by real-world assets, acting as a platform to facilitate their trading.
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Financial companies are starting to diversify their offerings to include blockchain and crypto-related services.
Then, for this purpose, the company will create a new unit within its structure, called Ita Digital Assets, which will provide tokenization capabilities and act as an intermediary between companies wishing to bring their assets to the blockchain and the marketplace.
The company will use a platform called Hyperledger Besu for tokenization purposes, and the tokens created will only be tradable within the company’s exchange.
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Meanwhile, according to local reports, the company has carried out tokenization tests, issuing tokens to some private customers and bank employees, although no official reports have been made about these trials. Vanessa Fernandes, a senior executive at the company, will lead the new effort as head of the Digital Assets Unit.
While the focus of this new unit is to bring tokenization services to its customers, Fernandes believes the company may be able to offer more than that in the future.
The executive commented the company is considering offering cryptocurrency trading services to customers in the future, but did not offer further details.
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Itaú is just the latest in a string of Brazilian companies to see an opportunity in the cryptocurrency trading arena.
Recently, Picpay, one of the most popular digital wallet and payments providers, announced that it will start offering cryptocurrency trading and payment services in August. In a similar way, Nubank, another Brazilian digital bank, also launched a similar trading service in May.
Itau Unibanco, Brazilian Company Will Start Tokenization. Brazil’s Central Bank has said it will conduct tests on its own central bank digital currency (CBDC) this year. Crypto asset regulation is also progressing, with the Brazilian Senate having approved a crypto bill for deliberation by the chamber of deputies.
Previously, entering the third weekend of July 2022, the price of Bitcoin and other top cryptocurrencies was observed to experience uniform movements on trading Sunday, July 17, 2022. The price movement of the crypto market managed to strengthen and sit in the green zone.
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Based on data from Coinmarketcap, Sunday (7/17/2022) morning, the cryptocurrency with the largest market capitalization, Bitcoin (BTC) edged up 1.26 percent in 24 hours, but weakened 2.41 percent a week.
Currently, the bitcoin price is at the level of USD 21,192 per coin or equivalent to IDR 317.8 million (assuming an exchange rate of IDR 14,996 per US dollar).
Ethereum (ETH) also managed to skyrocket this morning. Over the past 24 hours, ETH was up 7.39 percent and 9.90 percent in the week. That way, ETH is currently at the level of USD 1,344 per coin.
The next cryptocurrency, Binance coin (BNB) managed to stay in the green zone. In the last 24 hours BNB rose 4.27 percent and 2.24 percent a week. This makes BNB priced at USD 249.47 per coin.
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Then Cardano (ADA) this morning also strengthened. In the last one day ADA rose 2.61 percent. But still down 5.41 percent for the week. Thus, ADA is at USD 0.4564 per coin.
Meanwhile, Solana (SOL) also rebounded this morning. During the last one day SOL rose 4.51 percent and 2.57 percent a week. Currently, the price of SOL is at the level of USD 39.42 per coin.
XRP also managed to climb into the green zone. XRP is up 5.09 percent in the last 24 hours and 1.66 percent in the week. That way, XRP is now priced at USD 0.3525 per coin.
StablecoinTether (USDT) and USD coin (USDC), both strengthened 0.01 percent today. This makes USDT at the level of USD 0.9998 and USDC valued at USD 1.00.
While Binance USD (BUSD) strengthened 0.14 percent in the last 24 hours, which kept the price at USD 1.00
Itau Unibanco, Brazilian Company Will Start Tokenization. As for the overall crypto market capitalization in the last 24 hours, it managed to strengthen quite significantly at the level of USD 964.5 billion from the previous level of USD 897.7 billion.
