Latam Insights: Brazil Opens Crypto to Banks, Colombian Pension-Fund Manager Reveals Bitcoin Fund

The Central Bank of Brazil recently issued IN 701/2026, a set of rules for banking institutions and brokers offering crypto-related services, establishing new compliance requirements.

Before operating, these institutions will have to enlist the services of an independent, qualified company to certify that they comply with the rules issued by the bank for virtual assets service providers (VASPs).

These independent companies must certify that the institutions segregate assets, meaning that user funds cannot mingle with the company’s own resources, and provide proof of reserves for all the digital assets owned by customers and the company.

Proteccion’s President, Juan David Correa, explained that this new product was part of an institutional diversification push.

“Beyond a particular product, our ongoing conversation is about having in our portfolio all the investment alternatives that are part of the local and international financial markets.”

Revolut, a financial neobank based in London with over 70 million customers, has recently announced its expansion plans into Peru, disclosing that it has applied to receive a banking license to offer financial services in the country.

The move is focused on establishing a foothold in Peru, which has a large level of smartphone penetration, but whose adult population still lacks access to financial services in a significant proportion.

Convinced that it can help offer improved access to financial tools to more Peruvians, the company stated that its entrance into the country will “accelerate the country’s digitalization, competition and financial inclusion goals.”