Share this article
Brazil’s Largest Private Bank, Itaú, Selected by Central Bank to Develop a DeFi Liquidity Pool
The Banco Central do Brasil chose seven other projects as part of the Financial and Technological Innovation and Technology Laboratory.
Updated May 11, 2023, 3:51 p.m. Published Aug 29, 2022, 9:24 p.m.
This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.
Itaú Unibanco has been chosen by Brazil’s central bank to work on a decentralized finance (DeFi) liquidity pool.
STORY CONTINUES BELOW
The move comes as part of the government’s Financial and Technological Innovation and Technology Laboratory (LIFT), a public program that seeks to strengthen financial inclusion.
The platform – using blockchain and smart contracts – will allow the custody and exchange of tokens, such as stablecoins tied to the real, U.S. dollar or other fiat currencies, the central bank said in a statement released Friday.
In July, Itaú announced that it plans to launch an asset tokenization platform that transforms traditional finance products into tokens and also offers crypto custody services for its customers.
Seven other projects were announced by the Banco Central do Brasil, among them Easy Hash, which seeks to tokenize financial assets on the blockchain to decentralize credit risk among several creditors.
Read more: Brazil’s Largest Brokerage, XP, Launches Bitcoin, Ether Trading
This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese article can be found here.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
40% of Canadian Crypto Users Flagged for Tax Evasion Risk, Canadian Tax Authority Reveals
Canada’s tax agency says legal gaps limit its ability to track crypto-related income as it recovers $100 million through audits and pushes for tighter regulation.
What to know:
- The Canadian Revenue Agency reports that 40% of crypto platform users are evading taxes or are at high risk of non-compliance.
- CRA's cryptoasset program has 35 auditors working on over 230 files, resulting in $100 million in taxes collected over three years.
- New legislation to combat financial crimes, including crypto tax evasion, is expected by Spring 2026, as announced by the Minister of Finance.
Top Stories
