BitGo opens Brazilian subsidiary as tokenization reshapes the country’s capital markets

BitGo, one of the largest institutional digital asset custodians in the world, formally launched its Brazilian subsidiary, BitGo Brasil Tecnologia Ltda., on July 25, 2025. The move puts BitGo directly inside Brazil’s regulatory perimeter at a moment when the country is tightening rules for virtual asset service providers, including requirements around local management of cryptographic keys. Why Brazil, why now Brazil’s securities regulator, the Comissão de Valores Mobiliários, known as the CVM, formed a dedicated Tokenization Working Group in July 2026 to develop an experimental framework specifically for tokenized securities. The group includes ANBIMA, ABCripto, and other prominent market organizations, all focused on building distributed ledger technology infrastructure that meets the CVM’s standards. Luis Ayala, BitGo’s Director for Latin America, was direct about the firm’s posture when the subsidiary launched. The goal is to be a compliant partner for Brazilian banks and brokerages as they navigate a shifting regulatory environment. The numbers behind Brazil’s tokenization surge By September 2026, Brazil had recorded $835 million in tokenized assets across 386 series, 60 asset...