Brazil’s cryptocurrency market reached 505.5 billion reais in trading volume in 2025, equivalent to about $98.7 billion, according to the report cited by Odaily. That compares with 94.9 billion reais in 2020, an increase of more than five times.
Corporate transactions made up 98.3% of the total
Data from Brazil’s federal tax authority showed corporate-related crypto transactions totaled 497 billion reais, representing 98.3% of the reported total. Individual investors accounted for the rest.
Banks and fintech firms expanded crypto access
Itaú, described as Brazil’s largest bank by assets under management, now offers 15 crypto assets through its investment app, including Bitcoin, Ethereum, and the U.S. dollar-pegged stablecoin USDC. Fintech company Nubank lists 28 crypto assets. Banco do Brasil said trading volume has exceeded 11 million reais since it opened direct Bitcoin and Ethereum trading in January.
Since 2025, Itaú, Bradesco, Santander, Banco do Brasil, and Nubank have all expanded their crypto-asset services.
No proprietary virtual asset holdings on bank balance sheets
Filings cited by the Central Bank of Brazil as of March 2026 showed that the country’s banking sector held no virtual assets as proprietary positions. Banks are still allowed to custody and process crypto assets on behalf of clients.
Rules require licensing, capital, and segregation of client accounts
Brazil passed its Virtual Assets Legal Framework in 2022. In November 2025, the country issued three regulatory resolutions requiring institutions that provide crypto trading, custody, or transfer services to obtain licenses, meet minimum capital requirements, and keep client accounts segregated. The compliance deadline is Oct. 30, 2026.
Separately, Banco Safra issued the U.S. dollar-pegged stablecoin Safra Dólar in September 2025, with custody handled by the bank itself. The report cited Decrypt as the source.