Skip to main content

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

http://motleybloggers.com/wp-content/uploads/2022/08/second-biggest-brazilian-bank-bradesco-not-interested-in-crypto-alleges-it-is-still-very-small.jpg



bradesco

Bradesco, one of the biggest banks in Brazil, has stated it does not have plans to enter the cryptocurrency market in the near future. In an interview, Bradesco CEO Octavio de Lazari Junior stated that the company was currently not interested in launching crypto services to its customers, considering the cryptocurrency market will be “very small.”

Bradesco Won’t Offer Cryptocurrency Services In Near Future

While many neobanks and traditional private banks are launching crypto investment services as part of their portfolio to keep customers using their services, others are still on the sidelines. Bradesco, the second biggest bank in Brazil and Latam in terms of assets, with more than 70 million customers, is still not interested in the cryptocurrency market.

Bradesco CEO Octavio de Lazari Junior issued his take on cryptocurrency and how he believes these investments will evolve in the country. For de Lazari Junior, The cryptocurrency market is still too small, with dangerous characteristics for the investors interested in putting funds in it. About this, he stated:

Cryptocurrencies … are investments that are not tangible and are riskier, with people knowing about the risk they are taking and may want. For me, it will be a very small market.

Furthermore, he stated that while the company has no plans to enter the cryptocurrency market today, in the future, things might change. However, he advised that if any of its customers want to engage in cryptocurrency trading they might do it through Agora, its investment arm.

Other Cryptocurrency Pillars

Bradesco’s CEO explained that, for the bank, this was just one of three key pillars in the cryptocurrency world. While the executive thinks that the resources that people will put in this market will be very small, other applications might be more appealing. One of these has to do with the tokenization of assets, which uses blockchain-validated tokens to represent real assets on the blockchain. The objective being easing the trade of these assets.

On this topic, de Lazari Junior said that the bank is currently engaging in debentures tokenization projects. The third pillar in the crypto market is the one integrated by central bank digital currencies (CBDCs). Brazil is already developing the pilot of a digital real, and its model will include the ability for private banks to issue their own stablecoins backed by central bank digital currency deposits.



Tags in this story

Assets, blockchain technology, bradesco, CBDC, CDBC, Central Bank of Brazil, Cryptocurrency, cryptocurrency services, debentures, digital real, Octavio de Lazari Junior, tokenization

What do you think about the views Bradesco’s CEO has on the cryptocurrency market? Tell us in the comments section below.







Sergio Goschenko


Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.



Image Credits: Shutterstock, Pixabay, Wiki Commons, casa.da.photo / Shutterstock.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. MotleyBloggers.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.




Read disclaimer




Origina post from
https://motleybloggers.com/second-biggest-brazilian-bank-bradesco-not-interested-in-crypto-alleges-it-is-still-very-small/

Comments

Post a Comment

Popular posts from this blog

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would’ve Prevented FTX Bankruptcy

http://motleybloggers.com/wp-content/uploads/2022/11/us-senator-urges-congress-to-pass-her-crypto-bill-claims-it-wouldve-prevented-ftx-bankruptcy.jpg U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.” Senator Lummis Explains How Her Crypto Bill Would Prevent the FTX Catastrophe U.S. Senator Cynthia Lummis (R-WY) explained in a series of tweets Monday why the collapsed cryptocurrency exchange FTX wouldn’t have gone bankrupt had Congress passed her crypto bill. The cryptocurrency trading platform filed for bankruptcy last week. The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurre...
Post a Comment
Read more

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians

http://motleybloggers.com/wp-content/uploads/2022/12/research-shows-centralized-exchanges-saw-the-most-visits-this-year-from-americans-koreans-russians.jpg Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX Users, Turkey and Japan Are Also in the Top in Terms of Traffic The U.S., South Korea and Russia together account for 22% of all visits to centralized exchanges (CEX) for cryptocurrencies, according to the 2022-2023 “Global Crypto Industry Overview and Trends” annual report produced by Huobi Research. The estimate is based on data from the top 100 CEXs on active users, trading depth, trading volume, and reliability. With a share exceeding 9%, the United States is the pronounced leader in terms...
Post a Comment
Read more

"Crypto Is Never Coming Back" | History Is Repeating Itself!!

http://img.youtube.com/vi/20b4X0Wefz8/0.jpg https://www.youtube.com/watch?v=20b4X0Wefz8 💰 Get FREE CoinLedger Account Here! ➡️ https://coinledger.io/?fpr=ccv Crypto has been pronounced a failure and the cryptocurrency space has been predicted to go to $0 100's of times across the fear headlines over the years. But it is especially true in crypto bear markets. JOIN Crypto Capital Venture EXCLUSIVE Content ⚡⚡https://cryptocapitalventure.substack.com⚡⚡ 🟩 Bitcoin 4 Year Cycle Prediction - This May Change Your Mind On BTC https://youtu.be/IsKI359lAbQ Get Great Deal On TradingView subscription (the charts I use) USE MY LINK! - https://www.tradingview.com/?aff_id=114269 Follow me on my new Instagram ➡️ https://instagram.com/theofficialccv ⚡ Catch Me On Twitter ⚡ http://twitter.com/cryptorecruitr ⬇How To Stake Your Cardano In Minutes With Crypto Capital Venture!⬇ Stake Your ADA With Ticker: CCV1 ...
Post a Comment
Read more