Brazil's major banks have significantly expanded their cryptocurrency offerings to retail customers as regulatory clarity solidifies the sector. Itaú now offers 15 crypto assets including Bitcoin, Ethereum, and USDC, while Nubank provides 28 different tokens. Banco do Brasil, which launched Bitcoin and Ethereum trading in January 2026, has processed more than R$11 million ($2.1 million) in transactions through the service. These expansions follow record activity in Brazil's crypto market, which reached R$505.5 billion ($98.7 billion) in 2025—more than five times the R$94.9 billion recorded in 2020, according to federal tax authority data.

Importantly, none of these banks hold cryptocurrency on their own balance sheets. Central Bank filings from March 2026 show zero virtual asset holdings across Brazilian banking institutions, even as they custody and process crypto on behalf of clients. The distinction matters: banks are facilitating customer transactions without taking on the price risk, liquidity concerns, or credit exposure associated with direct ownership.