Ethereum moves deeper into Brazil’s banking system
Cryptocurrency access in Brazil is increasingly moving beyond dedicated exchanges and into mainstream financial applications.
Itaú, one of the country's major financial institutions, now allows customers to buy and sell multiple cryptocurrencies through its investment app. Its current crypto offering includes Bitcoin, Ether, Solana, USDC, XRP, Arbitrum and other assets. Itaú’s official cryptocurrency platform confirms that customers can trade crypto directly through the bank’s mobile application.
Nubank has expanded its own offering even further. The fintech currently lists 28 cryptoassets and says more than 7 million customers buy cryptocurrencies through Nubank’s platform. Its available assets include Ether, Bitcoin, USDC, Solana, Chainlink and other major tokens. (nubank.com.br)
Banco do Brasil adds direct Bitcoin and Ether trading
The expansion is also visible at Banco do Brasil, which began allowing customers to purchase Bitcoin and Ethereum directly in January 2026.
Since launching the service, the bank has processed more than R$11 million, or roughly $2.1 million, in customer crypto transactions, according to the figures supplied for this report.
The development is significant because customers can gain exposure to digital assets through an established banking relationship instead of having to open a separate account at a specialist crypto exchange. It also shows how Ethereum is becoming part of the product mix offered by traditional financial institutions rather than remaining limited to the crypto-native sector.
Brazil’s crypto market reaches R$505.5 billion
The banking expansion comes as Brazil's broader cryptocurrency market has grown substantially.
Data attributed to Brazil's Federal Revenue Service shows that cryptocurrency transactions reached R$505.5 billion, or approximately $98.7 billion, during 2025. That was more than five times the R$94.9 billion recorded in 2020.
The composition of that activity is important. Corporate transactions accounted for roughly R$497 billion, representing about 98.3% of the total reported volume. This indicates that the headline figure includes substantial business activity and should not be interpreted simply as retail investors buying cryptocurrencies through banks.
Banks are expanding access without necessarily holding crypto
One of the most important distinctions in Brazil's evolving crypto market is between offering cryptocurrency services to customers and holding digital assets directly on a bank's own balance sheet.
The expansion described here is primarily customer-facing. Banks and fintech platforms can provide ways for customers to buy, sell or access digital assets without necessarily taking the same proprietary cryptocurrency exposure themselves.
That distinction matters for Ethereum. A bank making Ether available through its investment application does not necessarily mean the institution is purchasing ETH as a corporate investment. Instead, Ethereum becomes another digital asset that customers can access through an established financial-services platform.
Brazil introduces a formal crypto-services framework
The growth of bank-based crypto services is occurring alongside a more detailed regulatory framework.
Brazil’s Central Bank issued Resolution BCB No. 520 in November 2025, establishing rules for virtual-asset service providers and the provision of virtual-asset services by institutions already authorized by the central bank. The resolution states that banks and certain other authorized financial institutions can provide virtual-asset intermediation and custody services. Read Resolution BCB No. 520.
The rules also establish requirements around the separation of customer assets from the provider's own assets. Under the resolution, virtual-asset service providers must implement mechanisms to distinguish their digital assets from those belonging to customers and users. (bcb.gov.br)
October 30 deadline adds urgency
The regulatory transition has a specific deadline for existing virtual-asset service providers.
Brazil's Central Bank states that entities already operating when the new framework took effect must submit authorization documentation during the first phase of the process by October 30, 2026. Central Bank guidance on the authorization process sets out the documentation requirements for companies already providing virtual-asset services.
The framework also contains requirements related to customer-asset segregation, governance, authorization and operational controls. These measures are intended to bring crypto services further into the regulated financial system rather than treating them as a separate market operating outside traditional financial supervision.
What the regulatory shift means for Ethereum
For Ethereum, the significance extends beyond the number of Brazilian platforms that list ETH.
Ethereum is increasingly being distributed through financial interfaces that millions of customers already use for traditional investments. Itaú's platform, for example, explicitly identifies Ether as the native cryptocurrency of the Ethereum network and makes it available alongside other digital assets.
That creates a different route into the Ethereum ecosystem. Instead of requiring every potential user to understand how a crypto exchange works before acquiring ETH, customers can encounter the asset through a familiar banking environment.
The model also places greater emphasis on regulated custody, transaction controls and compliance. That could make traditional financial institutions increasingly important distribution channels for digital assets as Brazil's regulatory framework becomes more established.
Brazil’s next phase will focus on regulated crypto access
Brazil's crypto market is therefore developing along two tracks at the same time: strong transaction growth and tighter regulatory oversight.
Itaú currently offers a range of cryptocurrencies through its investment platform, Nubank lists 28 cryptoassets, and Banco do Brasil has processed more than R$11 million in Bitcoin and Ethereum transactions since introducing direct purchases in January. Meanwhile, the broader Brazilian crypto market recorded R$505.5 billion in transactions during 2025.
The combination suggests that Ethereum and other major cryptocurrencies are becoming increasingly integrated into Brazil's mainstream financial infrastructure. The next stage will be shaped by the country's licensing, capital, custody and asset-segregation requirements as the October 30, 2026 regulatory deadline approaches.
