Itaú will release token after being enchanted by cryptoactive ETFs. Photo: Thomas Pehan, Unsplash.
O Itaú, the country’s largest private bank and one of the largest in the world, should be the first to tokenize digital assets and sell on an exchange in Brazil, in this case the Bitcoin Market. That’s because it will tokenize your receivables, according to the Broadcast service of Agência Estado.
According to the news, it will be a way for Itaú to experiment with new technologies to create products and services, that is, using blockchain and Ethereum, which is what the Bitcoin Market uses. It is a movement that banks abroad are also experiencing.
Itaú has been demonstrating its enchantment with the world of digital assets to offer products. It all started with the cryptocurrency index funds (ETFs) it offered its clients. The first was Hash 11, from Hashdex. Sources say the bank did not expect such receptiveness to the product.
After that, Itaú launched the fund Itaú Index Blockchain Shares FX IE, which invests in companies that adopt blockchain technology. Therefore, it can include cryptocurrencies. In addition, it placed on the market a Certificate of Structured Transactions (COE) that allows it to invest in the largest cryptoactive brokerage in the US, Coinbase.
Itaú token will give more diversity to the Bitcoin Market
However, Itaú continues to discuss at the Administrative Council for Economic Defense (CADE) with cryptocurrency companies. This is because it is part of a group of financial institutions that started to avoid opening a checking account for this segment.
Apart from the Itaú token, the Bitcoin Market already has a portfolio of tokens that includes, for example, assets backed by consortia and the FIFA solidarity mechanism of gain on transfer of players from Vasco.
The company also participated in the creation of the Tropix platform, of non-fungible tokens (NFT) art, last August. Is today, the Value Pipeline reported that he led a $2 million (about R$11 million) seed round at Tropix.