Second Biggest Brazilian Bank Bradesco Not Interested in Crypto, Alleges It Is Still ‘Very Small’

Bradesco, 1 of the biggest banks successful Brazil, has stated it does not person plans to participate the cryptocurrency marketplace successful the adjacent future. In an interview, Bradesco CEO Octavio de Lazari Junior stated that the institution was presently not funny successful launching crypto services to its customers, considering the cryptocurrency marketplace volition beryllium “very small.”

Bradesco Won’t Offer Cryptocurrency Services In Near Future

While galore neobanks and accepted backstage banks are launching crypto concern services arsenic portion of their portfolio to support customers utilizing their services, others are inactive connected the sidelines. Bradesco, the 2nd biggest slope successful Brazil and Latam successful presumption of assets, with much than 70 cardinal customers, is inactive not funny successful the cryptocurrency market.

Bradesco CEO Octavio de Lazari Junior issued his instrumentality connected cryptocurrency and however helium believes these investments volition germinate successful the country. For de Lazari Junior, The cryptocurrency marketplace is inactive excessively small, with unsafe characteristics for the investors funny successful putting funds successful it. About this, helium stated:

Cryptocurrencies … are investments that are not tangible and are riskier, with radical knowing astir the hazard they are taking and whitethorn want. For me, it volition beryllium a precise tiny market.

Furthermore, helium stated that portion the institution has nary plans to participate the cryptocurrency marketplace today, successful the future, things mightiness change. However, helium advised that if immoderate of its customers privation to prosecute successful cryptocurrency trading they mightiness bash it done Agora, its concern arm.

Other Cryptocurrency Pillars

Bradesco’s CEO explained that, for the bank, this was conscionable 1 of 3 cardinal pillars successful the cryptocurrency world. While the enforcement thinks that the resources that radical volition enactment successful this marketplace volition beryllium precise small, different applications mightiness beryllium much appealing. One of these has to bash with the tokenization of assets, which uses blockchain-validated tokens to correspond existent assets connected the blockchain. The nonsubjective being easing the commercialized of these assets.

On this topic, de Lazari Junior said that the slope is presently engaging successful debentures tokenization projects. The 3rd pillar successful the crypto marketplace is the 1 integrated by cardinal slope integer currencies (CBDCs). Brazil is already processing the aviator of a integer real, and its exemplary volition include the quality for backstage banks to contented their ain stablecoins backed by cardinal slope integer currency deposits.

What bash you deliberation astir the views Bradesco’s CEO has connected the cryptocurrency market? Tell america successful the comments conception below.