Brazilian Banks Flood Market with Crypto Offerings Amid Regulatory Clarity

Brazil's banks are expanding their crypto offerings as regulation takes hold in the country. According to recent data, Brazil's crypto market hit a record R$505.5 billion ($98.7 billion) in 2025, up more than fivefold from R$94.9 billion in 2020.

Itaú, Brazil's largest bank by assets under management, now offers 15 different cryptoassets through its investment app, including Bitcoin, Ethereum, and the dollar-pegged stablecoin USDC. Nubank lists 28, while Banco do Brasil has moved more than R$11 million ($2.1 million) in transactions since January.

The expansion of crypto offerings by Brazilian banks follows a regulatory shift. In 2022, Brazil passed its Legal Framework for Virtual Assets, handing the Central Bank authority over the sector. Three resolutions published by the bank in November 2025 gave that authority teeth, requiring firms to obtain a license and comply with certain regulations.

Banco Safra took the boldest swing, issuing its own dollar-pegged stablecoin, Safra Dólar, in September 2025. The bank markets it as a way for clients to hold dollar exposure without opening an account abroad.