Itaú, the largest private bank in Brazil, began offering 15 different tokens to retail clients in 2025, including Bitcoin and ether. Banco do Brasil, a state-controlled institution, followed in January 2026 by providing direct investment access to Bitcoin and ether through its brokerage platforms.
Nubank has taken a more aggressive approach, expanding its crypto platform to 28 assets. In May 2026 alone, the digital bank added four new tokens. Currently, more than 7 million users trade cryptocurrencies through the Nubank app.
All three institutions operate as custodians and intermediaries, ensuring that no cryptocurrency is held on their own balance sheets to avoid volatility risk. They classify these services as high-risk investments and require mandatory risk disclosures for all clients before trading.
This expansion is supported by a new regulatory framework for virtual asset service providers established by the Brazilian Central Bank (BCB). The resolutions, passed at the end of 2025 and effective since February 2026, set standards for capital adequacy, asset segregation, and proof of reserves.
