🚨 Brazil’s Largest Bank Itaú Unibanco Eyes Stablecoin Issuance Amid US Regulatory Shift 🚨
As the United States’ crypto regulatory landscape continues to evolve, Brazil is taking note. 🤔 The country is considering issuing its own stablecoin, and Brazil’s largest bank, Itaú Unibanco, is leading the charge. 💪 With over 55 million customers, the bank is eyeing a proprietary stablecoin that could revolutionize the way Brazilians think about money. 💸
But why now? 🤔 The answer lies in the US’ progressive stance on digital assets. 🌟 With the restructuring of the SEC and the passage of the STABLE Act, the US is paving the way for stablecoin regulation and growth. 🚀 Itaú Unibanco’s digital asset head, Guto Antunes, notes that the bank can’t ignore the power of blockchain to settle transactions atomically. 💻
Largest Bank in Brazil Issues Stablecoin: What To Know?
According to a local report, Itaú Unibanco is taking the initiative to launch an in-house stablecoin. 🚀 This move comes amid the increasing global interest in stablecoins as an alternative to volatile cryptocurrencies. 🤯 Guto Antunes asserts that the bank is open to exploring the possibility of creating a stablecoin pegged to the Brazilian real (BRL). 💸 The bank is currently weighing the potential benefits and feasibility of these digital assets for their clients. 🤔
But what does this mean for Brazil’s financial landscape? 🤔 The bank’s proposal to issue a stablecoin is primarily driven by the US’ progressive stance on digital assets. 🌟 Antunes notes that the bank has been influenced by America’s stablecoin developments. 💡 He comments, “Of course, it is always on the agenda. The issue of stablecoins has always been on Itaú’s radar. We cannot ignore the power that blockchain has to settle transactions atomically.” 💻
US Crypto Regulations Influence Brazil
The US government has been undergoing a significant regulatory overhaul under President Trump. 🤯 With the restructuring of the SEC and the passage of the STABLE Act, the US is paving the way for stablecoin regulation and growth. 🚀 The Trump government has given a specific focus on stablecoin regulation and growth. 📈 Recently, the US passed the STABLE Act, introducing exclusive guidelines for USD-pegged digital assets like USDT and USDC. 💸
Interestingly, the Brazilian bank’s proposal to issue a stablecoin is primarily driven by the US’ progressive stance on digital assets. 🌟 Antunes commented that the bank has been influenced by America’s stablecoin developments. 💡 He noted,
Of course, it is always on the agenda. The issue of stablecoins has always been on Itaú’s radar. We cannot ignore the power that blockchain has to settle transactions atomically.
Brazil Prohibits Pension Funds from Investing in Crypto
In a recent development, Brazil’s financial policy body, the National Monetary Council (CMN) issued a ban on pension funds’ crypto investments. 🚫 The organization cited concerns about crypto assets’ inherent risks as the key reason for the decision. 🤯 Meanwhile, the Brazilian bank’s plans to issue a stablecoin comes following the Cardano Foundation’s expansion into the country. 🌎 Recently, Cardano joined hands with SERPRO, the Brazilian government’s information technology company. 🤝
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2025-04-03 15:05