Brazilian Banks Expand Crypto Access without Taking Exposure

Brazilian banks have started to offer their customers access to cryptocurrencies without holding any digital assets on their own balance sheets. According to recent data, transactions across the country reached R$505.5 billion or about $98.7 billion in 2025, with companies accounting for nearly all reported activity.

Itaú, Brazil's largest bank by assets under management, now offers 15 crypto assets through its investment platform, including Bitcoin (BTC) and Ethereum (ETH). Nubank has listed 28 digital assets for more than 7 million users of its crypto platform. Banco do Brasil has processed over R$11 million in customer transactions since January.

Despite the growth in demand for cryptocurrencies, Brazilian banks remain cautious about direct exposure to digital assets. Carlos Akira Sato, co-founder of financial consultancy Syscapital, noted that regulation makes institutions more secure to launch their products.

The Central Bank of Brazil has implemented rules requiring companies that let customers trade, transfer or hold crypto to obtain authorization, maintain minimum capital and separate client assets from company funds. Around 120 crypto firms operating in Brazil must meet the licensing requirements by October 30, 2026.