Brazil's banks sell crypto to clients while keeping it off their books

Brazil’s biggest banks are bringing cryptocurrency into their consumer platforms; however, Banco Central do Brasil documents indicate that Brazilian banks had zero virtual assets held on their balance sheets as of March 2026.

This distinction is important as Brazil is essentially evaluating if banks can offer crypto products and services to clients without exposing themselves to the volatility of cryptocurrencies.

The consumer-facing aspect is already evident. Itaú allows clients to get 15 different cryptos such as Bitcoin, Ether, and USDC, while the official website of Nubank indicates 28 crypto assets available to consumers. Banco do Brasil, which started offering Bitcoin and Ether from January of this year, reported over R$11 million ($2.1 million) worth of transactions.

Growing shelves, empty balance sheets

It seems clear that the banks are purposely creating a well-defined separation. They allow their clients to engage in cryptocurrency operations without classifying the related crypto assets as investment instruments.

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