Brazilian bank Itaú has launched a service to allow customers on its investment platform to trade bitcoin (BTC) and other cryptocurrencies.

According to statements from the bank's head of Digital Assets, Guto Antunes, the service will initially be offered with bitcoin and ether (Ethereum's cryptocurrency).

"Our overall strategic plan is to include other crypto assets in the future," the official said in an interview with Reuters.

During the initial stage, registered customers will be able to buy cryptocurrencies worth a minimum of 10 Brazilian reais, without commissions. Antunes recalled that they already have "a structure already adapted for it". He referred to the asset tokenization platform that was launched in 2022.

Itaú's head of Digital Assets indicated that the cryptocurrencies will be in custody at the bank itself. He explained, in that sense, that this was an issue of "great relevance" for the institution's team when deciding to launch the services.

The executive added that any expansion will depend on how crypto regulation evolves in Brazil. All this, because the initiative must be aligned with the guidelines established by the Central Bank, the National Monetary Council (CMN) and the Securities and Exchange Commission (CVM).

In this regard, it is worth remembering that the Brazilian government gave its approval this year to a Bitcoin Law, which is still awaiting its regulation. It is in the process of being prepared and will be submitted to public consultation.