Key Highlights
- Itaú Unibanco filed cryptocurrency service documentation with Brazil’s central bank before the regulatory deadline.
- The financial institution submitted required paperwork on October 27, three days before the October 30 cutoff.
- Customers access 15 digital currencies through the platform, including Bitcoin, Ethereum, Solana, XRP, and USDC.
- Minimum investment threshold stands at 10 Brazilian reais via the bank’s digital platform.
- Resolution 520 mandates authorized financial institutions provide independent technical verification.
Itaú Unibanco, Brazil’s leading private financial institution, submitted cryptocurrency trading and custody documentation to the central bank, marking the first such filing under updated regulatory requirements. The submission arrived on October 27, meeting the October 30 compliance timeline. Valor Econômico reported the filing. The documentation addresses current operations rather than announcing new offerings. The bank launched digital asset investment services in December 2023.
Regulatory Filing Covers Trading and Custody Operations
The documentation encompasses cryptocurrency trading activities and custody services, which involve safeguarding digital assets on behalf of clients. Brazil’s regulatory framework categorizes entities offering these combined services as virtual asset brokerages.
Itaú maintains authorization from the central bank as a licensed lender. This status allows the institution to file notifications with regulators instead of pursuing the separate licensing pathway required for dedicated cryptocurrency service providers.
The platform enables trading of 15 digital assets via the bank’s mobile application, featuring Bitcoin, Ether, Solana, XRP, and USDC. Entry-level transactions begin at 10 Brazilian reais, with Itaú maintaining client assets through proprietary custody systems. In related developments, BNY expanded XRP and RLUSD custody services on October 27.
The financial institution has withheld specific figures regarding customer participation or transaction volumes within its cryptocurrency division. The bank’s public communications clarify that digital currency holdings remain outside the coverage of Brazil’s deposit guarantee protection scheme.
Itaú maintains custody of client cryptocurrency assets while users execute trades via the banking application. According to the bank, customers avoid direct management of private keys.
Regulatory Timeline Applies to Current Market Participants
Resolution 520 became effective February 2, 2026, establishing a 270-day window for qualified banks already managing cryptocurrency operations to complete filing requirements. Concurrently, Tether backed a Latin American payment expansion that includes planned services in Brazil.
Financial institutions must supply independent technical certification demonstrating adherence to new compliance standards. The central bank retains authority to request supplementary documentation and may direct an institution to cease relevant operations within 30 days following official notification.
Independent cryptocurrency service providers must pursue formal authorization instead of utilizing the bank notification pathway. Brazilian platform Mercado Bitcoin has announced intentions to pursue approval as a cryptocurrency brokerage.
Brazil’s regulatory structure addresses custody requirements, client protection measures and financial crime prevention controls. Internationally, Standard Chartered agreed to acquire Zodia Custody on October 21, pending regulatory approval. Brazilian authorities also plan to implement restrictions preventing authorized institutions from executing specific cryptocurrency transactions with providers lacking domestic approval beginning November 6.
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