Bradesco, Brazil's third-largest bank, is set to enter the cryptocurrency custody market, including support for stablecoins. The bank has partnered with an undisclosed entity to offer comprehensive digital asset custody services. Renata Petrovic, Bradesco's head of innovation, highlighted the bank's internal preparations for this venture, emphasizing the importance of regulatory compliance before entering the crypto space. The move marks a significant shift from Bradesco's 2022 stance, when the bank expressed skepticism about cryptocurrencies. Bradesco has been conducting internal pilots, including blockchain-based know-your-customer (KYC) solutions and the use of stablecoins in foreign trade, to enhance operational efficiency. This strategic entry into the crypto market aligns with the broader trend of traditional financial institutions embracing digital asset services.
Bradesco to Launch Crypto Custody Services with Stablecoin Support
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