Brazilian Banks Expand Crypto Offerings in Response to New Regulations
Three of Brazil's largest financial institutions have expanded their crypto offerings in response to the country's new regulatory framework for virtual asset service providers. Itaú, Nubank, and Banco do Brasil have all built out token menus that rival some standalone exchanges, but with a key difference: none of them hold crypto on their balance sheets.
The banks are treating crypto as just another asset class available through their existing brokerage platforms, with each offering a range of tokens including Bitcoin and ether. Itaú kicked off 2025 by offering 15 different tokens to retail clients, while Nubank expanded its crypto platform to 28 assets in May 2026.
The critical detail is how these banks have structured their exposure: they act purely as custodians and intermediaries, connecting clients to digital assets without taking on the volatility risk themselves. Each bank classifies its crypto services as high-risk investments, complete with mandatory risk disclosures before clients can trade.