Brazil’s Largest Bank Plans to Launch Its Own Stablecoin

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Brazil’s largest bank, Itaú Unibanco, with over 55 million customers, is considering launching its own stablecoin. Guto Antunes, head of digital assets, says interest has grown due to the U.S. government’s evolving crypto stance. He highlights blockchain’s potential for atomic transactions and hints at a possible Brazilian real-backed stablecoin. However, Itaú is first studying the experiences of other banks and waiting for stablecoin regulations to be established in Brazil before moving forward.