Why does Itaú warn about stablecoins?

Itaú warned that rapid movement from bank deposits into stablecoins could affect credit creation in Brazil.

What did Guto Antunes say about stablecoins?

Guto Antunes said stablecoins, tokenised deposits and traditional deposits have different roles within the financial system.

Bank deposits help fund lending, making them an important part of Brazil’s credit system.

Itaú Digital Assets head Guto Antunes did not describe stablecoins as a direct threat and argued they can coexist with bank deposits.

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Written by Mahathir BayenaPublished Aug 19, 2026, 7:32 AM

Itaú warned that a rapid shift from bank deposits to stablecoins could disrupt credit creation in Brazil.
The bank said deposits remain an important funding source for loans across the Brazilian economy.
Itaú Digital Assets head Guto Antunes said stablecoins and bank deposits can coexist.

Itaú Unibanco warned that moving deposits into stablecoins too quickly could affect Brazil’s credit system.

Guto Antunes, head of Itaú Digital Assets, raised the concern at Blockchain.RIO 2026.

He said Brazil’s economy relies heavily on bank credit and deposits.

Antunes said stablecoins, tokenised deposits and traditional deposits each have different roles in the financial system.

Itaú serves about 70 million customers and held roughly R$3.2 trillion in assets at the end of the first quarter.

The bank has expanded its digital assets business, including crypto trading, custody and tokenisation projects.

The comments also reflect a wider US debate over whether stablecoin rewards could encourage customers to move money from bank deposits.