Itaú Unibanco Considers Launching Stablecoin Amid Global Bank Interest

Brazil's largest bank, Itaú Unibanco, is considering launching its own stablecoin, joining a growing trend among traditional financial institutions. The decision hinges on Brazil's evolving regulatory framework and the performance of similar initiatives by major international institutions. This follows announcements from Japan's Sumitomo Mitsui Financial Group (SMFG), which plans to build infrastructure for stablecoin issuance and payments, with a pilot program expected later this year and a full launch next year. Bank of America CEO Brian Moynihan also confirmed the bank's readiness to launch a dollar-backed stablecoin if a clear legal framework is established in the US. Itaú's potential move signals Latin America's increasing role in digital finance.