One of <a href="https://banco.bradesco/html/classic/index.shtm" target="_blank" rel="nofollow noopener">Brazil's largest banks</a>, Bradesco, has said it has no current plans to enter the <a href="https://www.cryptoknowmics.com/news/uks-all-party-parliamentary-group-appg-inquires-crypto-industry/" target="_blank" rel="noopener">crypto industry</a>. According to Bradesco CEO Octavio de Lazari Junior, the corporation is not interested in offering crypto services to its clients since the market for cryptocurrencies will be "extremely modest."
<h2>Bradesco Not To Provide Crypto Services In Future</h2>
Several neobanks and traditional private banks are introducing cryptocurrency investing services as part of their portfolio to retain consumers utilizing their services. With more than 70 million clients and the second-largest financial strength in Brazil and <a href="https://www.cryptoknowmics.com/news/latams-btg-pactual-launches-bitcoin-crypto-exchange/" target="_blank" rel="noopener">Latin America</a>, Bradesco is still not interested in the crypto sector.

The CEO of Bradesco, Octavio de Lazari Junior, shared his thoughts on cryptocurrencies and how he expects the market for them to develop in the future. De Lazari Junior believes that the crypto sector is too small and has risky qualities for those who are considering investing in it. He said this about it:
<blockquote><em>"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."</em></blockquote>
The company does not currently have any plans to engage in the cryptocurrency sector, he added, but that might change in the future.
<h2>Other Cryptocurrency Foundations</h2>
According to the CEO of Bradesco, this was only one of three important cryptocurrency foundations for the bank. Although the CEO believes that there won't be much investment in this industry, other uses may be more desirable. One of these is the tokenization of assets, where actual assets are represented on the blockchain by tokens that have been blockchain-validated. The goal is to make it easier to exchange these assets.

De Lazari Junior stated that the bank is now working on initiatives, including the tokenization of debentures concerning this issue. The integration of central bank digital currencies (CBDCs) would become the third pillar of the cryptocurrency market. Brazil is already working on a pilot for digital reality, and its design would allow private banks to create stablecoins backed by digital currency deposits from central banks.

Bradesco Won't Offer Cryptocurrency Services In The Near Future

According to Bradesco CEO Octavio de Lazari Junior, the corporation is not now interested in offering cryptocurrency services to its clients.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Bradesco Won't Offer Cryptocurrency Services In The Near Future

Top Picks