Brazilian bank Itaú Unibanco has just launched a cryptocurrency trading service for its clients, Reuters has reported.
While the financial institution will initially allow Bitcoin and Ethereum transactions, it has said it will expand the list of supported currencies in the future.
Guto Antunes, a spokesman for the bank, has said:
"It starts with Bitcoin, but our overarching strategic plan is to expand to other crypto assets in the future."
According to him, expanding the range of supported digital currencies will depend on changes in the country's regulatory environment.
The bank will also reportedly act as custodian of the assets.
The Brazilian authorities recognized Bitcoin as a means of payment and investment asset in December last year, while in February, the country's oldest bank allowed paying taxes with cryptocurrencies.