[Brazil's Cryptocurrency Market to Reach $98.7 Billion by 2025, Banks Expand Client Services but Hold Zero Proprietary Positions] Odaily Planet Daily News: Brazil's cryptocurrency market is projected to reach a transaction volume of 505.5 billion Brazilian reais by 2025, approximately $98.7 billion, marking a more than fivefold increase from 94.9 billion reais in 2020. Corporate-related transactions account for 497 billion reais, representing 98.3% of the total reported by Brazil's Federal Revenue Service, with individual investors making up the remainder. Itaú, Brazil's largest asset management bank, now offers 15 types of crypto assets through its investment app, including Bitcoin, Ethereum, and the USD-pegged stablecoin USDC. Fintech company Nubank lists 28 types of crypto assets, while Banco do Brasil has facilitated over 11 million reais in transactions since opening direct trading for Bitcoin and Ethereum in January. According to filings from Brazil's Central Bank as of March 2026, Brazilian banks hold no proprietary positions in virtual assets but are authorized to custody and process crypto assets on behalf of clients. Since 2025, Itaú, Bradesco, Santander, Banco do Brasil, and Nubank have all expanded their crypto asset service offerings. In 2022, Brazil passed the 'Virtual Asset Legal Framework,' and in November 2025, issued three regulatory resolutions requiring institutions providing crypto asset trading, custody, or transfer services to obtain licenses, meet minimum capital requirements, and segregate client accounts. The compliance deadline is October 30, 2026. In September 2025, Banco Safra issued the USD-pegged stablecoin Safra Dólar, which is self-custodied by the bank. (Decrypt)