Brazil's Crypto Market Reaches $98.7B in 2025, Banks Expand Services but Hold Zero Crypto
OdailyOdaily News: Brazil's cryptocurrency market saw trading volume of 505.5 billion reais (approximately $98.7 billion) in 2025, more than five times the 94.9 billion reais in 2020. Corporate-related transactions accounted for 497 billion reais, representing 98.3% of the total reported to Brazil's Federal Revenue Service, with individual investors accounting for the remainder.
Itaú, Brazil's largest asset manager, now offers 15 crypto assets through its investment app, including Bitcoin, Ethereum, and the dollar-pegged stablecoin USDC. Fintech Nubank lists 28 crypto assets, and Banco do Brasil has seen over 11 million reais in transactions since it began offering direct Bitcoin and Ethereum trading in January.
According to filings with the Central Bank of Brazil as of March 2026, Brazilian banks hold no proprietary virtual assets but may custody and process crypto assets on behalf of clients. Since 2025, Itaú, Bradesco, Santander, Banco do Brasil, and Nubank have all expanded their crypto asset services.
Brazil passed the Virtual Assets Legal Framework in 2022 and issued three regulatory resolutions in November 2025, requiring institutions offering crypto trading, custody, or transfer services to obtain licenses, meet minimum capital requirements, and segregate client accounts, with a compliance deadline of October 30, 2026. Banco Safra issued the dollar-pegged stablecoin Safra Dólar in September 2025, which it custodies itself. (Decrypt)
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