Coinbase, Ripple and Inter file for crypto licences with Brazil's central bank

A Coinbase, Ripple and Inter have announced that they filed authorisation requests with Brazil's central bank, the Banco Central do Brasil, to operate virtual asset services in the country. The three companies join a growing list of institutions seeking to comply with the new regulation of the cryptocurrency market, whose deadline for the first stage of applications closes this Friday (30).

The announcements came in the final stretch of the transition period set by the regulator, which now requires specific rules for companies offering intermediation, trading and custody services for Bitcoin and other digital assets.

The regulation, published in November 2025, sets out requirements covering minimum capital, governance, internal controls, cybersecurity and protection of client funds.

Filing the applications does not mean the companies have already received final authorisation from the central bank. The requests still need to go through review, and the institutions will have to meet the requirements corresponding to the activities they intend to offer.

Besides the three companies, exchanges including Binance, Mercado Bitcoin, Ripio, Bybit and OKX have also recently confirmed applications.

Coinbase and Ripple look to expand their presence in Brazil

Coinbase, one of the largest cryptocurrency exchanges in the United States, confirmed it had submitted its authorisation request under Brazil's new regime for virtual asset service providers (PSAVs, in the Portuguese acronym).

In a statement, the company said the application will allow its current operations in Brazil to continue while the regulation is implemented, subject to the conditions set by the central bank. The company also said it intends to expand its presence beyond cryptocurrency trading.

According to Fabio Plein, who heads Coinbase in Brazil, the strategy includes virtual asset services, foreign exchange operations and payment services, including the issuance of electronic money.

"The authorisation request will allow Coinbase's current operations in Brazil to continue under the new regulatory framework. More broadly, our goal is to bring to the country the concept of the Everything Exchange, a comprehensive platform that gives Brazilians access to financial assets and crypto assets," the executive said.

Coinbase stressed, however, that each of these activities will depend on meeting the requirements and obtaining the specific authorisations that apply.

Ripple also confirmed it had filed its documentation with the central bank on Wednesday (28), after announcing in March its intention to apply for authorisation to act as a virtual asset service provider in Brazil.

Known for its cross-border payments solutions and blockchain infrastructure, the US company offers custody services and products aimed mainly at financial institutions.

Among its business lines is the stablecoin Ripple USD (RLUSD), a cryptocurrency designed to maintain parity with the US dollar and used in financial transactions and international transfers.

Isabel Sica Longhi, Ripple's director of public policy and regulatory affairs for Latin America, said the process marks an important step for the company's presence in the country. "The authorisation process represents an important milestone for the maturity of the sector in the country, and the application shows Ripple's clear interest in continuing to contribute to that development," she said.

The company did not disclose the case number or publicly detail the specific licence category it requested from the central bank.

Inter also formalises application to operate digital assets

Inter, a Brazilian bank, was another institution to announce a regulatory move this week. The bank said it filed an authorisation request related to Inter Digital Assets, the unit dedicated to its digital asset operations.

The information was disclosed by Bruno Grossi, an Inter executive, in a post on LinkedIn. According to him, the filing was the result of a preparation process that involved risk analysis, operational adjustments and technical discussions across different areas of the institution. "The filing is a milestone, but also the start of a new stage," Grossi wrote.

The bank did not disclose which licence category was requested, the capital planned for the operation, or which services are included in the application.

In his post, the executive mentioned opportunities related to cryptocurrencies, stablecoins, tokenisation and international payments. However, these references do not mean that all of these products are covered by the application or have already received regulatory approval.

The situation also requires distinguishing between the bank, which already holds authorisation to operate as a financial institution, and the legal entity responsible for the digital asset operation.

BCB Resolution No. 520, issued by Brazil's central bank, sets out specific procedures for previously authorised financial institutions that wish to provide cryptocurrency services. Depending on the structure used, this may require either a formal notification of the activities or an authorisation request for a new group company.

That was the case with Itaú, a Brazilian bank that formally notified the central bank of its activities in cryptocurrency intermediation and custody, using the procedure set out for financial institutions already authorised.

In Inter's case, not enough detail has yet been disclosed to identify all the conditions of the application submitted by Inter Digital Assets.

Twenty-five companies and institutions had already been identified in applications, registrations or communications related to the new regulation, including Ripple and Inter.

That figure, however, is not an official list of licences granted. The tally brings together applications announced by companies, public registrations, regulatory communications and even one previously rejected application.

As the 30 October deadline approaches, announcements of authorisation requests have accelerated. While some companies have decided to keep operating and adapt to the new requirements, others, such as Coinext, NovaDAX and Digitra.com, have announced they are shutting down their cryptocurrency activities in the country.

Companies that were already providing regulated services and fail to file their applications within the deadline will have to halt those activities, following the wind-down period set out in the central bank's rules.

Those that do file their applications will be able to keep operating while the review is underway, provided they meet the conditions set for the transition regime.

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