Connect with us

News

Brazil’s largest bank launches Bitcoin trading 

Brazilian bank Itaú Unibanco has launched a cryptocurrency trading service for its clients as part of its investment platform, Reuters reported on Dec. 4.

Published

on

Brazilian bank Itaú Unibanco has launched a cryptocurrency trading service for its clients as part of its investment platform, Reuters reported on Dec. 4.

Itaú, the largest bank by assets in Brazil and one of the leading lenders in Latin America, is debuting crypto trading with Bitcoin  and Ether , digital asset head Guto Antunes reportedly said. In the future, the bank plans to add more cryptocurrencies for trading, he noted.

Itaú Bank will serve as the cryptocurrency custodian for the crypto trading service, meaning that it will store crypto assets for its clients. Antunes reportedly noted that initially, Itaú clients will not be able to deposit and withdraw cryptocurrency using external crypto wallets.

 The news comes as Brazil’s biggest lenders — including Itaú Unibanco, BTG Pactual and Santander Brasil — are reportedly ramping up headcount and adding resources in preparation for the nationwide rollout of the digital Brazilian real, called the Drex. Itaú reportedly launched digital asset custody earlier this year, with Antunes disclosing that 85% of its clients were interested in keeping their crypto with the bank.

It’s been about a month since two local players announced they were leaving the crypto market. According to Reuters, brokerage and investment company XP Investimentos recently announced a shutdown of its crypto services without citing its reasons. The financial services firm PicPay, owned by conglomerate J&F, which also controls meatpacker JBS, reportedly cited regulatory uncertainties for terminating the crypto business.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

Published

on

7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

Continue Reading

Business

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Published

on

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

Continue Reading

Business

GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Published

on

GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk