Bradesco Launches Corporate Crypto Custody With Foxbit as First Client
Bradesco has launched corporate crypto custody services, with Foxbit as its first client, according to Q2 2026 earnings. The post Bradesco Launches Corporate Crypto Custody With Foxbit as First Client appeared first on The Rio Times .
Bradesco, Brazil's largest private bank, has launched corporate crypto custody services with Foxbit, a Brazilian exchange, as its first client. This move comes as new rules from the central bank arrive, signaling a trend in the country's financial sector of traditional banks entering the digital asset safekeeping market for institutions.
Bradesco's service offers secure storage of cryptocurrencies inside a regulated banking space, catering to corporate clients who seek safe, legal ways to handle digital assets. The bank's assets under custody, which include securities, funds, and now digital assets, reached R$2.8 trillion (US$550 billion) as of Q2 2026. The bank's move into crypto custody aligns with its strategy to grow fee income, as interest rates in Brazil remain high, potentially slowing down loan demand.
Meanwhile, Brazil's central bank prepares new anti-fraud rules, including a 24-hour wait on crypto transfers over US$10,000 to be implemented from January 1, 2027, in an effort to prevent money laundering and other fraudulent activities. This regulatory framework is seen as both a means to legitimize the crypto sector and a source of compliance duties for firms involved in crypto custody.
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