Key facts
- Brazilian banks have expanded their crypto offerings, with Itaú listing 15 assets and Nubank listing 28.
- Banco do Brasil has processed over $11 million in Bitcoin and Ethereum transactions since January.
- Central Bank filings from March 2026 indicate Brazilian banks hold no proprietary cryptocurrency assets.
- Brazil's crypto market volume reached R$505.5 billion ($98.7 billion) in 2025, a fivefold increase since 2020.
- New regulations require crypto firms to be licensed and meet capital requirements by October 30, 2026.
Brazilian banks are expanding their cryptocurrency offerings, driven by increased regulatory clarity from the Central Bank. The country's crypto market saw a significant surge, reaching R$505.5 billion ($98.7 billion) in 2025, a more than fivefold increase from 2020.
Major institutions like Itaú and Nubank have broadened their digital asset portfolios, with Itaú offering 15 cryptoassets and Nubank listing 28. Banco do Brasil reported moving over R$11 million ($2.1 million) in Bitcoin and Ethereum transactions since January through its direct trading service.
Despite these client-facing services, Central Bank filings from March 2026 reveal that Brazilian banks hold no proprietary cryptocurrency assets on their balance sheets. This indicates a strategy of facilitating client transactions rather than taking direct market exposure.
The expansion aligns with Brazil's regulatory shift, beginning with the Legal Framework for Virtual Assets in 2022 and culminating in three key resolutions published by the Central Bank in November 2025. These rules mandate licensing, minimum capital cushions, and segregated client accounts for any firm involved in trading, holding, or sending crypto, with a compliance deadline of October 30, 2026.
Notably, a new rule treats dollar-pegged stablecoin transactions as foreign exchange operations, bringing them under the Central Bank's direct oversight. This regulatory clarity has provided banks with the security needed to launch and expand their crypto products. Banco Safra has taken a more assertive approach by issuing its own dollar-pegged stablecoin, Safra Dólar, in September 2025, offering clients dollar exposure without requiring offshore accounts.