Brazilian Banks Expand Crypto Offerings as Regulation Takes Hold

Brazilian banks are expanding their cryptocurrency offerings as regulation takes hold in the country. Itaú, Brazil's largest bank by assets under management, now allows clients to buy and sell 15 different cryptocurrencies through its investment app, including Bitcoin, Ethereum, and the dollar-pegged stablecoin USDC.

Nubank, Brazil's largest fintech, lists 28 cryptocurrencies on its platform. Banco do Brasil, Brazil's most lucrative public bank, reported that it has processed over $11 million in transactions related to cryptocurrency purchases since January.

The expansion of cryptocurrency offerings by Brazilian banks is a recent development and tracks a regulatory shift. In 2022, Brazil passed its Legal Framework for Virtual Assets, giving the Central Bank authority over the sector. Three resolutions published in November 2025 gave that authority teeth, requiring any firm that lets customers trade, hold, or send crypto to obtain a license, maintain a minimum capital cushion, and use segregated client accounts.

According to Carlos Akira Sato, co-founder of consultancy Syscapital, the clarity provided by these regulations has made banks more secure in launching their own cryptocurrency products. Banco Safra, a smaller bank known for serving high net worth clients, issued its own dollar-pegged stablecoin, Safra Dólar, in September 2025 and maintains full custody in-house.