Itaú Unibanco Considers Launching Stablecoin Amid Regulatory Review

Brazil’s largest private bank, Itaú Unibanco, is exploring the issuance of a stablecoin in the country, contingent upon regulatory developments and benchmarks set by international institutions. The potential launch reflects Brazil’s dynamic cryptocurrency landscape as the nation awaits regulatory reviews. Itaú Unibanco’s proposed stablecoin aligns with blockchain technology to facilitate efficient atomic settlements. This move comes amidst growing interest from Brazilian banks in integrating blockchain technology, with similar initiatives observed in financial institutions globally.