With a regulatory framework in place, the expansion of Drex, and the growing use of blockchain across various sectors, Brazil is consolidating its strategic role in the digital ecosystem. (Image: designs by Fernando Cortes/Canva Pro)
Brazil is experiencing a decisive moment in building its leadership in the global cryptoasset and blockchain ecosystem. Amid the advancement of financial digitalization, the country is beginning to stand out not only for the size of its market but also for the maturation of regulatory discussions and the growing adoption of technology in public and private sectors.
A recent milestone was the creation of the National Blockchain Observatory, launched in 2024 by the Ministry of Management and Innovation in Public Services. The proposal is to monitor the use and development of this technology in government services and public policies, bringing Brazil closer to practices adopted by leading countries in digital public innovation.
The use of blockchain in governments, as seen in Estonia with digital identities or in the UAE with property records, has shown significant gains in efficiency, security, and transparency. The Brazilian observatory follows this logic: to seek evidence and data to promote the responsible and strategic use of blockchain.
In the private sector, the scenario is also dynamic. According to a 2023 survey by Chainalysis, Brazil ranks among the top ten countries with the highest adoption of cryptoassets in the world. The combination of a digitalized population, historically high inflation, and the search for new investment forms has fueled the growth of the local market. According to the latest data from ABcripto, over 9 million Brazilians own cryptoassets, with an average daily transaction volume of R$ 23 billion.
Moreover, logistics, agribusiness, energy, and health companies are already using blockchain for traceability, smart contracts, and data validation, indicating that its use goes far beyond cryptocurrencies. The tokenization market has also expanded: in 2024 alone, over R$ 1.3 billion in real-world assets were tokenized, with a 300% growth in crowdfunding platforms with tokens, according to data from the CVM and ABcripto.
But it is in the regulatory field that perhaps the most structuring movements are taking place. The approval of Law 14.478/2022, which established the Legal Framework for Cryptoassets, was the starting point for a clearer and more stable trajectory for the sector in Brazil. Starting in 2023, the Central Bank began to take on the supervision of virtual asset service providers (VASPs), while the CVM advanced with specific regulations for tokenized public offerings and funds with exposure to cryptoassets.
In 2025, the Central Bank opened public consultations to regulate topics such as asset segregation, exchange rules, and operational guidelines for companies in the sector. These debates are essential to ensure a regulatory environment that promotes both innovation and consumer protection.
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The Brazilian regulatory advancement is also notable compared to other countries. While the United States faces legal disputes regarding the classification of digital assets, and the European Union is still implementing the MiCA (Markets in Crypto-Assets) framework, countries such as Singapore and Hong Kong adopt pro-innovation policies with regulatory sandboxes and authorization for controlled testing.
In Brazil, in addition to the legal framework in place and the actions of the Central Bank and the CVM, the country benefits from an active dialogue between the market and regulators, which has been decisive in creating legal security and fostering investments. For comparison: between 2019 and 2023, Brazil tokenized about R$ 1 billion in assets. In 2023 alone, the amount was R$ 542 million, and in 2024, it exceeded R$ 1.3 billion, demonstrating the sector's leap in maturity.
A clear example of this maturity is the development of Drex, the Central Bank's digital currency, which has moved to Phase 3 of testing. After simulating 13 use cases in 2024—including asset tokenization, settlement of public securities, and real guarantees—the BC announced at Febraban Tech that the new stage of the pilot will focus on the use of Drex as collateral in credit operations. The expectation is that the use of Drex will make these operations faster, safer, and more accessible.
The final report of Phase 2 is expected to be released in July, consolidating lessons learned about interoperability, privacy, and regulatory compliance. Alongside initiatives like Pix and Open Finance, Drex forms a robust digital infrastructure that repositions Brazil as a reference in the digitalization of the financial system.
The Brazilian challenge is to build a robust trajectory, balancing innovation, financial inclusion, and stability. The advantage is that, as an emerging market with strong digital adoption and a developing regulatory framework, the country experiences new solutions with agility and responsibility. This environment is increasingly reinforced by data and concrete actions: the trading volume in cryptoassets in 2024 exceeded R$ 440 billion in Brazil, and the number of active monthly investors has surpassed 5.8 million, according to the Federal Revenue.
The construction of this environment is not solely the task of the State. The private sector, associations, and society play a central role in generating knowledge, in the financial education of the population, and in developing solutions aligned with Brazilian reality.
ABcripto has promoted self-regulation actions since 2020, technical training programs such as the Certification in Virtual Assets (CEAV), digital security campaigns like Contra-Golpe, as well as an active agenda with regulatory bodies, universities, and international entities. It has also played a leading role in contributing to public consultations from the Central Bank and the CVM and has established relevant institutional agreements with the National Justice Council (CNJ) and Coimbra Business School.
The path is being paved. Blockchain—as a digital infrastructure based on trust and decentralization—tends to be one of the central gears of the economy in the coming years. Brazil, with its diversity of use cases, market growth, and constant dialogue between public and private agents, has real potential to establish itself as a global reference in this new phase of digital transformation.