Galipolo: Brazil's financial system is secure

Galipolo: Brazil's financial system is secure

Brazil's central bank, led by Governor Gabriel Galipolo, has announced a series of measures aimed at bolstering the security of the country's financial system. These new regulations come in response to recent cyberattacks on financial institutions and are designed to protect both consumers and businesses from potential threats.

Effective immediately, payment institutions not authorized by the central bank and connected to the National Financial System Network via IT service providers will face a 15,000 reais ($2,766.92) cap on digital cash transfers [1]. This cap is set because 99% of corporate transactions via the Pix instant payment system or TED bank transfers fall below this threshold. By limiting the transfer amount, the central bank aims to make cyberattacks more difficult to execute, as they typically involve large, one-off transactions.

Galipolo emphasized that these measures are targeted at organized crime, not financial institutions. Under the new rules, no payment institution will be allowed to operate without prior authorization from the central bank. The deadline for unauthorized firms to apply for a license has been moved up to May 2026 from December 2029 [1].

Additionally, Brazil's central bank is engaging in high-level talks with its Nigerian counterpart to strengthen economic and financial cooperation. The discussions, which took place during President Bola Tinubu’s state visit to Brazil, covered key areas such as monetary policy, financial stability, regulatory cooperation, and digital payments innovation [3].

These efforts highlight Brazil's commitment to enhancing its financial infrastructure and fostering international partnerships that can drive economic growth. The collaboration with Nigeria is part of a broader push by both central banks to modernize their financial sectors and align their reforms with global best practices.

Meanwhile, AEON Pay has integrated crypto with Brazil's PIX network, enabling fast, low-cost payments across millions of merchants. The integration allows users to scan PIX QR codes and settle instantly in Brazilian Real, reducing costs and opening new opportunities for crypto adoption in everyday shopping [4].

These developments underscore Brazil's dedication to maintaining a secure and resilient financial system, while also embracing technological advancements in payments and financial services.

References:
[1] https://www.reuters.com/world/americas/brazils-central-bank-enhances-security-financial-system-2025-09-05/
[2] https://www.investing.com/news/economic-indicators/brazils-central-bank-enhances-security-of-the-financial-system-4227119
[3] https://businessday.ng/news/article/cbn-brazil-central-bank-strengthen-ties-on-fintech-financial-stability-remittances/
[4] https://blockonomi.com/aeon-brings-crypto-payments-to-brazil-through-pix-scan-to-pay-rollout/