Ripio applies for crypto broker license in Brazil ahead of deadline

Ripio has formally asked Brazil’s central bank for permission to keep doing business there. The Argentine digital assets firm filed for authorization as a virtual asset broker, along with clearance to operate in the foreign exchange market.

The timing was tight. Ripio submitted its application on October 27, 2026, three days before the October 30 deadline for existing operators to fall in line with Brazil’s new regulatory framework.

What Ripio is asking for

The filing with the Banco Central do Brasil (BCB) covers several services at once. Ripio is seeking approval to provide intermediation, which means matching buyers and sellers, and custody, which means holding assets on behalf of customers.

It also wants access to Brazil’s foreign exchange market. That would let it work where crypto meets traditional currency conversion, a zone regulators tend to watch closely.

CEO Sebastian Serrano has framed the move as a statement of commitment. He confirmed the company will make whatever adjustments are needed to keep operating in Brazil within the rules.

Ripio has served Brazilian customers since 2015.

The adjustments already underway

The application did not arrive in a vacuum. Ripio has already reshaped parts of its Brazilian operation to meet regulatory demands.

The most notable change involves customer balances held in Brazilian reais. Ripio is converting those BRL balances into wBRL, the company’s own stablecoin. A stablecoin is a crypto token built to hold a steady value rather than swing with the market.

The company has also planned to shut down certain features on its platform. These include Pix deposits and trading functionalities, with features like Pix deposits set to be discontinued by October 29, 2026.

A crowded line at the central bank

Ripio is far from alone. At least 14 to 16 firms have publicly applied for authorization under the BCB’s new rules for virtual asset service providers, often shortened to VASPs.

VASP is the regulatory catch-all for companies that handle crypto on behalf of others. Exchanges, brokers and custodians all fall under the umbrella.

The new framework also carries a meaningful financial bar. Minimum capital requirements range from R$10.8 million to R$37.2 million, depending on the type of activity a firm wants to pursue.

Filing an application is also not the same as winning one. The licensing process carries no guarantee of approval, and every firm in the queue is effectively waiting on a decision it cannot control.

Background: Brazil formalizes its crypto rules

Brazil’s push reflects a broader maturation of its crypto market. Rather than leaving digital asset firms in a gray area, the central bank has built a formal licensing regime with clear deadlines and capital thresholds.

The October 30 cutoff applied specifically to existing operators. Companies already serving Brazilian customers had to file by that date to stay in the game, which explains why Ripio and its peers converged on the same narrow window.