Major Brazilian banks are scaling crypto services to meet rising demand, leveraging new regulatory clarity from the Central Bank to offer Bitcoin, Ethereum, and stablecoins without taking proprietary balance sheet risk.
USDC is explicitly highlighted as a dollar-pegged stablecoin offered by Itaú, benefiting from a significant regulatory shift. Resolution 521 now classifies transactions involving such tokens as formal foreign exchange operations, providing the legal legitimacy and oversight required for major banks to integrate them into their service offerings.
Under Resolution 521, they are treated as foreign exchange operations, subject to the same reporting standards as sending money abroad.
Bitcoin is seeing increased institutional accessibility as major Brazilian banks, including Banco do Brasil, expand their crypto lineups to meet client demand. This trend is supported by a clearer regulatory framework that allows banks to custody and process assets without taking them onto their own balance sheets.
No, Central Bank filings indicate zero holdings of virtual assets on the books of Brazilian banks; they only process and custody assets on behalf of clients.
Ethereum is benefiting from the same institutional tailwinds as Bitcoin, with major banks integrating it into their investment apps to capture growing retail and corporate interest. The regulatory clarity provided by the 2022 Legal Framework for Virtual Assets has reduced the perceived risk for conservative banking institutions to offer Ethereum to their clients.
Clearer rules from the Central Bank have made institutions feel more secure to launch and expand their crypto product lineups.
Itaú is expanding its crypto footprint by offering 15 assets to its clients, signaling a strategic move to retain customers in a shifting financial landscape. While this expansion enhances the bank's service menu, the bank avoids direct financial risk by ensuring that no crypto assets are held on its own balance sheet.
No, the bank does not hold crypto on its own balance sheet and does not absorb price, liquidity, or credit risk associated with the assets.
Brazil's major financial institutions, including Itaú and Nubank, are rapidly expanding their crypto asset menus following a surge in market activity. While trading volumes reached R$505.5 billion in 2025, banks maintain a conservative stance by acting as intermediaries rather than holding digital assets on their own balance sheets.
No. While banks are facilitating trades and providing custody services for clients, Central Bank filings indicate that institutions currently hold zero virtual assets on their own books.
The 2022 Legal Framework for Virtual Assets, bolstered by 2025 Central Bank resolutions, now requires firms to obtain licenses, maintain capital cushions, and segregate client accounts, effectively legitimizing the sector.