Brazil's largest private asset manager, Itaú Asset, has launched a dedicated cryptocurrency division.

Itaú Asset Management, Brazil's largest private asset management company, has established a dedicated cryptocurrency department and appointed former Hashdex executive João Marco Braga da Cunha to lead the department. The department is based on Itaú Asset's existing cryptocurrency products, including the bank's bitcoin ETF and retirement funds that offer digital asset investments. Itaú Asset manages over 1 trillion reais (185 billion US dollars) in assets for clients.