Itaú Unibanco, the largest financial institution in Latin America, has expanded its Íon investment platform to allow all 60 million customers to trade Bitcoin and Ethereum directly through the app.

The decision was made due to strong client support for crypto products.

The platform currently has over 3.5 million downloads but only offers BTC and ETH, with plans to add more tokens after regulatory assessments.

Itaú aims to compete in Brazil's growing crypto market, waiting for clear regulations on stablecoins from the central bank.

The bank has developed its own internal tool for crypto wallet custody, in compliance with Brazil's Central Bank requirements for asset segregation.

Itaú plans to add more cryptocurrencies as customer demand increases and regulatory risk analysis is conducted.

The bank is also preparing for regulatory clarity on stablecoin operations in Brazil.

Itaú is focused on growth in compliance with regulatory standards set by the Central Bank.