Itaú Unibanco, Brazil's largest private bank, has formalized its cryptocurrency trading and custody activities with the country's central bank. According to crypto.news, it is the first Brazi
Itaú Unibanco, Brazil's largest private bank, has formalized its cryptocurrency trading and custody activities with the country's central bank. According to crypto.news, it is the first Brazilian bank to complete the notification process under the new digital asset rules.
The bank submitted its filing on October 27, ahead of the October 30 compliance deadline, crypto.news reported, citing local outlet Valor Econômico. The service covers 15 digital assets, including $BTC, $ETH and $USDC. CoinDesk reported that Itaú has run the service since December 2023 and has not disclosed user numbers or volumes.
Resolution 520 is part of a package of central bank rules that took effect on February 2, 2026. CryptoSlate's regulatory profile says it sets operating rules for virtual asset service providers and creates intermediary, custodian and broker categories. Itaú's combination of trading and custody falls under the brokerage category, according to CoinDesk.
Banks already authorized by the central bank can follow a notification process, while dedicated crypto providers must apply for authorization, CoinDesk reported. Existing providers had 270 days from the rules' entry into force to comply. Submissions must include an independent technical certification, and firms that miss the deadline must stop offering crypto services within 30 days.
The notification route lets Itaú keep its existing service inside the new framework without applying for the full license that standalone crypto firms need, Crypto Briefing noted.
Other firms are also moving ahead of the deadline. Unchained reported that Binance applied for authorization on October 23 and that its application is pending. CoinDesk added that Brazilian exchange Mercado Bitcoin has said it is seeking authorization to operate as a virtual-asset brokerage.
The central bank has also moved the date from which banks and other authorized institutions are barred from crypto business with unauthorized providers. Crypto.news reported that Resolution 589 moved that restriction from October 30 to November 6.
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