BitGo Expands into Brazil: A Bold Play for Banking’s Crypto Future

BitGo just planted its flag in Brazil—and traditional banks are the target. The institutional crypto custodian's move signals a land grab for Latin America's booming digital asset market.

Why Brazil? Why now?

With regulators finally warming to crypto, Brazilian banks are scrambling to offer digital asset services. BitGo's infrastructure lets them skip the messy middle—no need to build custody solutions from scratch when you can white-label a battle-tested platform.

The timing's perfect. Brazil's crypto adoption surged 137% last year, and its CBDC pilot is already outpacing the digital euro. Banks that don't play ball risk becoming glorified fiat ATMs.

Of course, some legacy institutions will still insist on 'evaluating the risks' until their clients defect to crypto-native platforms. Old habits die hard—especially when you're charging 4% for international wire transfers.