Bradesco to Launch Crypto Custody for Tokens, Stablecoins

Bradesco announced last week it will launch custody services for digital assets, including tokens, cryptocurrencies and stablecoins, in Brazil. The bank said it has secured a partner to provide custody services but did not name the firm or give a firm launch date.

The bank has built an internal team focused on digital assets to develop the technical and compliance frameworks needed for custody operations. Bradesco said the partner will hold and manage client assets rather than the bank acting alone, and the offering will cover the full spectrum of digital assets.

Bradesco ran two internal pilots before moving toward a custody business. One pilot tokenized customer credentials to speed know-your-customer checks for online purchases. The other tested stablecoins for foreign trade transactions and reported efficiency gains in cross-border processes.

Renata Petrovic, head of innovation at Bradesco, commented on the preparations: “We are preparing to have a digital asset custody business; we already have a partner who will work with us, providing custody for all assets, including tokens, crypto, and stablecoins.” She added the bank waited for clearer regulation before entering the market.

Bradesco has more than 5,300 branches across Brazil and said the custody service will be available through its existing network once operational. The bank did not disclose pricing or a detailed rollout schedule.

The announcement follows comments from 2022 by then-CEO Octavio de Lazari Junior, who described cryptocurrencies as less tangible and higher risk and said the market was small. Despite that earlier view, Bradesco took part in pilot testing of drex, Brazil’s central bank digital currency.

Custody services for digital assets typically include secure storage of private keys, regulatory reporting, and processes to enable client transfers and access. Bradesco said its custody offering aims to provide institutional-grade safekeeping and operational controls, and it framed the service as a way to support both retail and institutional clients.