Historical series Itaú Digital Assets announces cryptoactive custody offering
The service will follow all security protocols to protect, manage, and maintain the safekeeping of cryptoactive assets
November 17, 2022 – Itaú Digital Assets, Itaú Unibanco’s business unit responsible for the process of transforming financial assets into digital representations known as tokens, takes another step in the digital asset market with the cryptoactive assets custody initiative, providing the best pillars of security, governance, and compliance. The service will be available as of the second quarter of 2023, initially only for the bank’s own digital assets and, in due course, in an “as a service” offer for corporate and institutional clients. “When we created Itaú Digital Assets, we defined four fundamental pillars of operation: advisory services for issuers, issuance, distribution of tokens and safe custody of crypto-assets. On this custody front, we bring the expertise of the traditional model added to blockchain technology with all the security protocols to protect, manage, and maintain the safekeeping of cryptocurrencies and tokens,” explains Eric Altafim, Director of Tables and Products at Itaú Unibanco. The digital assets market has been evolving rapidly and regulation has sought to keep up with this development. In this sense, the capital markets must take advantage of this transformation to increase their efficiency and security. By operating in this sector, whether through tokenization or custody of crypto-assets, Itaú Digital Assets seeks to meet the market demand for security and consolidate its leadership in a market undergoing transformation. Thus, Itaú Unibanco takes the lead in the Brazilian market and becomes the first bank to position itself in the custody of cryptoactive assets. “Custody is a fundamental element in this context, because, especially in a new market such as the cryptoactive one, it brings security to investors. We will store our clients’ assets in a reliable environment,” Altafim stresses.