Itaú becomes the first Brazilian bank to officially register encrypted transactions

Itaú Unibanco, Brazil's largest private bank ( Ita ú Unibanco ), has officially registered its cryptocurrency trading and custody services with the country's central bank, becoming the first Brazilian bank to complete the notification process under the new digital asset regulations.

• Itaú Unibanco, Brazil's largest private bank, has become the first bank in the country to officially complete the registration for cryptocurrency trading and custody services in accordance with the new regulations.
• On October 27th, they submitted a notice to the central bank, which was earlier than the deadline of October 30th. Currently, they offer 15 types of digital assets, including Bitcoin, Ethereum, and USDC.
• Itaú has been providing cryptocurrency trading services since December 2023, but the latest registration has brought its existing services under Brazil's new regulatory framework.
• New Brazilian regulations allow authorized banks to register their cryptocurrency services through a notification process, while specialized cryptocurrency exchanges are required to apply for operational authorization.

According to the report " Valor Econ ôm Token Issuance ", the lending institution submitted its notification on October 27th, which is three days ahead of the deadline of October 30th required by the central bank for financial institutions that already provide cryptocurrency services.

This filing covers cryptocurrency trading and custody, both of which fall under the category of virtual asset brokerage services established by regulatory authorities. Itaú has provided investment channels for 15 digital assets through its investment platform, including Bitcoin, Ethereum, as well as the stablecoin USDC.

Unlike cryptocurrency exchanges and other specialized virtual asset service providers, Itaú does not need to apply for a separate operating license, as it is already authorized by the Central Bank of Brazil and is subject to its regulation.

Itaú's encrypted transaction service has been available since 2023.

Although the latest regulations have officially incorporated Itaú's cryptocurrency business into the new regulatory framework, the bank has been providing digital asset investment services for nearly three years.

Its cryptocurrency trading service was initially launched in December 2023, allowing customers to purchase Bitcoin and Ethereum through the bank's Í on investment platform.

Thereafter, this service was gradually made available to more customers, and by June 2024, Itaú opened cryptocurrency trading to all users on the platform.

At that time, Guto Antunes, the person in charge of Itaú's digital assets business, stated that this expansion was based on customer surveys conducted during the initial promotion phase, which indicated that customers had a considerable interest in cryptocurrency investment.

According to information on their official investment website, since then, the bank has expanded the number of tradable cryptocurrencies to 15.

Despite the service having been in operation for several years, Itaú has not yet disclosed publicly how many customers use its cryptocurrency platform, nor has it revealed the total amount of transactions processed through that platform.

crypto.news previously reported in September that major Brazilian banks have been expanding their supply of cryptocurrency products, among which Nubank offers trading channels for 28 types of digital assets, while Brazilian banks ( Banco do Brasil ) launched Bitcoin and Ethereum trading services earlier this year.

Bank central records reviewed by the Brazilian newspaper Folha de S.Paulo show that as of March 2026, Brazilian banks did not hold any cryptocurrencies on their own balance sheets, despite continuing to provide trading and custody services to customers.

Itaú is also advancing other blockchain applications. In August, the bank joined a tokenization pilot project organized by the Brazilian Financial Markets Association ANBIMA to explore the issuance, trading, and settlement of tokenized bonds and investment funds.

Brazilian crypto regulations set different requirements for banks and exchanges

The Central Bank of Brazil introduced a new cryptocurrency regulatory framework through a series of resolutions that came into effect on February 2, 2026.

According to Resolution No. 520, financial institutions that have been authorized by regulatory authorities can provide cryptocurrency services through a notification process, as long as they meet the applicable requirements.

For institutions that have already commenced related operations at the time of the new regulations taking effect, the Central Bank of Brazil has set a 270-day transition period, which will end on October 30th.

Notification documents must be accompanied by independent technical certifications to confirm compliance with regulatory requirements, including those applicable to the operations and security standards of virtual asset services.

Institutions that fail to complete the program by the deadline must cease their cryptocurrency services within 30 days.

Companies that specialize in cryptocurrency business are subject to different procedures. Exchanges and other virtual asset service providers that were already operating before February 2 must submit a formal authorization application in order to continue operating under the new regulations.

These regulatory requirements have prompted several cryptocurrency companies to re-evaluate their business arrangements in Brazil.

A latest report on licensing requirements finds that it is estimated that less than 10% of cryptocurrency companies will seek authorization, while smaller firms are concerned about compliance costs and capital requirements.

Meanwhile, Binance submitted its license application before the deadline of October 30th, joining other cryptocurrency companies seeking approval from the Brazilian Central Bank.

One of Brazil's largest domestic cryptocurrency exchanges, Mercado Bitcoin, also stated that it intends to apply for authorization under the new framework.

The Brazilian Central Bank sets an November deadline for unauthorized crypto service providers

The Central Bank of Brazil also separately adjusted the timing of the relationship between regulated financial institutions and unauthorized crypto service providers.

In September, regulatory authorities issued Resolution No. 589, postponing the effective date of restrictions on transactions between unauthorized virtual asset service providers from October 30 to November 6.

From that date onwards, banks, payment institutions, and other entities regulated by the Central Bank of Brazil will, in principle, be prohibited from conducting cryptocurrency transactions with service providers that are neither authorized nor fall under any applicable regulatory exceptions.

In September, the adjustments also introduced additional reporting requirements for cryptocurrency companies operating during the transition period, including information such as customer asset balances, managed positions, and reserves.

These reports stipulate that they are to come into effect on January 1, 2027, with the specific procedures to be established by the Central Bank of Brazil.

In addition, since October 1st, Brazil has implemented new reporting requirements for eligible institutions, which apply to cryptocurrency transfers between self-hosted wallets involving amounts of at least $10,000.

According to Resolution No. 588, transfers that meet the criteria must be reported to the country's financial intelligence agency—the Financial Activities Control Commission ( Coaf ).