Starting today, December 3, Itaú Unibanco will allow its customers to trade crypto assets such as Bitcoin and Ethereum directly in the bank's app.
Previously, only a select group of users had access to Íon, the bank's crypto platform, launched in 2023.
Minimum value of R$10 and fee of 2.5%
The minimum investment amount will be R$10, and transactions will incur a 2.5% fee at the time of purchase. There will be no monthly charges or additional fees on sales. Initially, Itaú will only offer the most consolidated crypto assets, with high liquidity on the largest global exchanges.
With the superapp, the new functionality will be available in the platform’s investment menu. In addition, the product reinforces the growing popularity of the crypto industry in Brazil.
But what is the difference between Íon and just superapp?
At a press conference, the head of Itaú Digital Assets, Guto Antunes, explained details about the new product.
Íon and superapp are two identical solutions with different customer profiles. In Íon, for example, these are users who already have some knowledge of the financial and crypto markets. The superapp is still for those who do not have much knowledge of the subject. It is the everyday customer.
According to the executive, in the future, new features will be integrated into the APPs to differentiate them. Among them, transfers from self-custody wallets such as Metamask. The inclusion of new tokens between 2025 and 2026 is also a desire of the bank.
But everything depends on regulation, reinforces the Head of Itaú Digital Assets. He revealed that there is a large demand for transfers of cold wallets to Íon and superapp.
Itaú tests to integrate self-custody portfolios
In addition, another reason for waiting to introduce new tokens and products was customer security. One of the major issues raised by the users consulted was concerns about simple and secure operations. With this expansion, Itaú reinforces the narrative of hyper-personalization.
We are already testing the possibility of receiving assets from other self-custody wallets. This phase is being carried out with clients who already transact crypto at Itaú and employees. Everyone is giving their opinion so that the bank can offer a better product, adds Antunes.
Monthly crypto volume grows 300% at Íon
Since cryptoactive trading was launched on Itaú's Íon platform in 2023, the monthly volume of purchases has increased by around 300%. Furthermore, the number of new customers grew by more than 30% in the last month alone.
Antunes explained that the bull run brought this increase in new users and hence the bank's new strategy of offering crypto assets such as Bitcoin and Ethereum to its entire customer base, through the superapp. Education and regulatory advances were also cited as one of the fundamental pillars for "greater awareness about this market.
It is our attentive look, every day, at the needs and demands of our customers, which allows us to be very assertive in providing new solutions. We tested cryptoactive trading on a smaller scale, we had significant adoption from our customers and now we are mature to offer this modality to all customers, with all the simplicity of the superapp and the security of Itaú”, highlights João Araújo, Business Director, Itaú Unibanco Digital Platforms and Experiences.
The article Itaú expands Bitcoin and Ethereum trading for its customers appeared first on BeInCrypto Brazil.
