Brazilian Mars Stabcoin's biggest bank is waiting for restrictions

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Itau Unibanco, Brazil’s largest banking institution, is considering issuing a ridiculous bank, hoping to learn from the experience of American banks and the regulations of final stubcoins in the country.

ItaúUnibanco talks about Brazil’s regulations and internal Stablecoin

Banks around the world are looking to see how stubcoins and these new assets fit into their business models. Itau Unibanco, the largest bank in Brazil and Ratum, recently raised the possibility of issuing in-house stubcoins to serve more than 55 million customers.

Guto Antunes, Itaú’s digital assets director, declared that the interest has skyrocketed in the pivot of the US government’s stance on crypto and the connections taken after Stablecoins were mentioned as a tool to promote and protect dollar sovereignty.

At a bank event, Antunes said:

Of course, that is always on the agenda. The issue with Stablecoins has always been on Itaú’s radar. It cannot be ignored that the power that blockchain must resolve transactions atomically.

Furthermore, Antunes rated that even the real Brazilian stubcoins were not excluded in today’s market context. “We are always open to understanding for our clients within Itau, whether it makes sense to have a stubcoin, even in real life,” he pointed out.

Before this happens, banks are evaluating the experience of other financial institutions that also issue Stablecoins, as well as finalizing domestic Stablecoin regulations.

Nevertheless, in the case of Anchiana, stubcoin is a hot topic in today’s market, already proving its usefulness in the US and Brazil.

As presented in a recent regulatory draft, Antuners emphasized that they believe in an intermediate approach to their ideas, regarding the proposal to ban stubcoin’s independence. He explained that this could be achieved by establishing a self-obligatory wallet list approved by the central bank and allowing these funds to be overseen.

“Releasing them will lose its purpose to prevent indiscriminate illegal activities,” he concluded.

Read more: Coinbase opposes market-breaking stubcoin regulation proposal in Brazil