Tokenization growth through new crowdfunding rules

The CVM predicts asset tokenization in Brazil will exceed $740 million this year. This growth stems from crowdfunding rules that allow issuers to raise up to $2.78 million with a maximum duration of 180 days. Bruno Gomes, superintendent of securitization at the CVM, notes that the first half of 2025 already saw more than half of this target issued, which supports his $740 million prediction. Crowdfunding acts as a sandbox in the local market; it removes the need for a bookkeeper or depositary. Joao Pedro Nascimento, head of the institution, says the US SEC created a crypto task force to study crowdfunding as a way to bring crypto economics to the regulated market. Proposed changes aim to increase fundraising caps to $4.6 million. Industry expert Bernardo Srur predicts these changes could push the market beyond $1.8 billion. The tokenization economy enables small companies to bypass traditional capital market regulations, which democratizes access to credit and investment opportunities for all.

Institutional crypto funds capture market share

The expansion of institutional crypto products in Brazil is clearly the best driver of market maturity. Hashdex launched Hash 11, the first crypto asset ETF in Latin America, which captured more than 1 billion reais and reached 28,000 reserves at launch. QR Capital launched the first ETF in Latin America with 100% exposure in Bitcoin. You should monitor how these vehicles affect retail access to high-volatility assets. Altcoin ETFs are gaining momentum following regulatory shifts. XRP ETFs manage $1.47 billion in assets, while Solana ETFs hold $1.09 billion in reserves. Mercado Bitcoin projects the altcoin ETF segment will reach $10 billion by the end of 2026.

The crypto market in Brazil shows maturity through diversification. Total transaction volume in the Brazilian cryptocurrency market grew 43% in 2025. The average investment per person reached 5,700 Brazilian reais, which is more than $1,000. Data from Datafolha and Paradigma Education shows that 15% of Brazilians invest in cryptocurrencies, which is 2.5 times more than the 6% who invest in stocks. This 15% includes 15 million people who invest through banks, 6 million through exchanges or funds, and 3 million through self-custody platforms. Bitcoin could reach 14% of gold’s market capitalization by the end of 2026.

Stablecoins and regulatory shifts

The stablecoin sector holds $307 billion, with Tether’s USDT commanding 60.5% of that market. Mercado Bitcoin expects the total stablecoin market capitalization to reach $500 billion. This expansion occurs as the CVM lifted a stop order on 11 digital tokens previously offered by Mercado Bitcoin. The regulator acknowledged the documentation provided by the exchange after initially labeling the tokens as unauthorized collective investment contracts. This decision revokes CVM Deliberation No. 896/2025, which had imposed suspensions and daily fines. The CVM uses a regulatory sandbox to create room for experimentation. Stablecoins facilitate the rapid and secure movement of resources without exposure to the volatility of other digital assets. This liquidity provides essential stability for the broader market during periods of high volatility.

Will these regulatory reversals lead to more aggressive tokenization from major exchanges? Brazil ranks sixth globally in crypto adoption, with 26 million citizens owning digital assets. This adoption includes 15 million people who invest through banks, 6 million through exchanges or funds, and 3 million through self-custody platforms. The most popular products among the 15% of crypto investors are savings accounts at 52%, real estate at 31%, physical cash at 24%, investment funds at 19%, and cryptocurrencies at 15%.