Latin America’s biggest bank considers in-house real stablecoin

Itaú Unibanco, the largest bank in Brazil and Latin America, is exploring the creation of a real-pegged stablecoin as it awaits regulatory clarity from the Central Bank’s ongoing public consultation.

Itaú Unibanco is considering to issue an in-house stablecoin pegged to the Brazilian real, as originally reported by Valor. Speaking at a bank event in São Paulo, Guto Antunes, the Head of Digital Dssets at Itaú Unibanco, said that stablecoins have long been on the bank’s radar.

“Of course, it is always on the agenda. Stablecoins have always been on Itaú’s radar. We cannot ignore the power of blockchain to settle transactions atomically,” stated Antunes.

Antunes stressed the significance of the Central Bank’s initiating a public consultation (Consultation No. 111) about the stablecoin market. He explained that it’s necessary understand how the Central Bank will regulate the sector before any stablecoin product is issued.

“It depends on the consultation because we have to understand what can be done. The stablecoin market has already gained usability for the customer, but we need to know how we can advance on the topic,” he comments.

Antunes also expressed support for self-custody of stablecoins, a topic that may face restrictions under the proposed framework. As a potential compromise, he suggested a waiver system that would give the Central Bank access to taxpayer assets while still allowing for controlled self-custody.

“If it is released indiscriminately, it loses the objective of preventing illicit acts,” he remarked.

Itaú Unibanco’s exploration of a Brazilian real-pegged stablecoin is part of the broader trend where banks are increasingly launching their own in-house stablecoins, drawing inspiration from the U.S. favorable stance on these digital assets—especially after Trump’s decision to reject a central bank digital currency in favor of private stablecoins.