Brazilian Banks Enhance Crypto Services Following New Regulations

Itaú, Nubank, and Banco do Brasil, three of Brazil's largest financial institutions, have expanded their offerings in the cryptocurrency market, functioning as crypto brokerages for millions of retail clients. This development follows the implementation of a new regulatory framework by the Brazilian Central Bank, which took effect in February 2026, aimed at providing institutional guidelines for virtual asset service providers.

Itaú, Brazil's largest private bank, began offering 15 different tokens, including Bitcoin and ether, to retail clients at the start of 2025. Banco do Brasil, the state-controlled bank, launched direct investment access to these cryptocurrencies in January 2026. Nubank has taken a more aggressive approach, expanding its platform to include 28 different assets, with over 7 million users trading crypto through its app as of mid-2026.

Importantly, these banks do not hold cryptocurrencies on their balance sheets. Instead, they operate as custodians and intermediaries, connecting clients to digital assets while avoiding the associated volatility risks. Each institution categorizes its crypto services as high-risk investments, requiring clients to acknowledge risk disclosures before trading.

The regulatory framework established by the Brazilian Central Bank includes requirements for authorization, capital adequacy, asset segregation, and proof of reserves. These measures ensure that companies offering crypto services in Brazil maintain sufficient capital, keep client funds separate, and verify their asset holdings. This familiar regulatory environment has facilitated the entry of established banks like Itaú and Banco do Brasil into the cryptocurrency space.

© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: KLEA News