Itau, the largest bank in Brazil, evaluates the possibility of issuing its own stubcoin if it allows it by the central bank.
According to Guto Antunes, director of digital assets at Itaú, it is impossible to ignore the benefits of cryptographically active networks for automated transaction clearing. According to local media, experts have declared initiatives such as USDT and USDC. They were always under the company’s radarand now they are very much concerned with the experience of US banks with the launch of this type of project.
«The theme of the stubcoin was always right in front of Itau. Antunes said at an event held in Sao Paulo.
Stablecoins have emerged as a solution to the volatility of cryptocurrencies such as Bitcoin (BTC) and ether (ETH). These tokens issued by intelligent agreements work as follows Digital representation of Fiat Money, and assets such as gold.
As reported by Cryptonoticias, interest in these virtual assets has been increasing since the Donald Trump government banned central banks (CBDCs) digital currencies. From the US They threaten citizen privacy and put the country’s sovereignty at risk.
In Brazil, regulators are conducting public consultations to define how So-Calted’s “stable currency” can be integrated into the financial system. In this regard, Untune pointed out The importance of acting carefully before the central bank and not developing products establishes a clear regulatory framework. He knows that “stubcoins are a central issue in today’s market,” but emphasized that it is essential for them to understand how to move forward.
It should be noted that Untune supports Steubcoin’s self-adjusting. Practices that central banks can ban in accordance with the draft current consultation. Alternatively, representatives of Itaú propose an intermediate model. We accept your own responsibility, but use a list of addressed addresses that can be accessed by monetary authorities if necessary. In his opinion, this would balance privacy and security.
The banking sector is waiting for definitions, but Brazilian authorities have adopted a more restrictive position on digital assets. Recently, the National Council of Currency (CMN) approved the resolution. Prohibits private pension funds investing in cryptocurrency. The measures are trying to mitigate risks associated with these products, according to regulators.
Regarding the US, the debate on stubcoin advances with concrete steps. Recently, the House Financial Services Committee approved the Stable Act, a bill that sought to establish a federal regulatory framework for these digital assets. The proposal requires emitters to remain 1:1 on liquid assets and prohibit risky financial practices to increase transparency and market stability.
