Introduction
Bitrust, a qualified digital custodian under 2TM Group, is preparing to launch Brazil's first institutional-grade crypto asset custody service. Targeting global investors, the platform aims to bridge the gap between traditional finance and blockchain-based digital assets in Latin America’s largest economy.
"Once operational, Bitrust will enable institutional investors to securely access cryptocurrencies and issue digital assets directly in Brazil," explains CEO Ronaldo Faria.
Regulatory Progress and Market Context
CVM Sandbox Approval
- Bitrust has applied to operate under Brazil’s Securities and Exchange Commission (CVM) regulatory sandbox.
- Authorization is expected by mid-2024, aligning with 2018 guidelines permitting fund exposure to crypto assets—previously restricted to offshore markets.
Why Brazil Needs Local Custody
- Currently, institutional investors face high costs and complexity using overseas infrastructure.
Localization offers advantages:
- Compliance with Brazilian law.
- Tailored services and talent.
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Bitrust’s Security Framework
Core Mechanisms
- Risk Tracking: Monitors abnormal transactions and sanctioned wallets.
- Asset Flow Transparency: Provides full audit trails to combat money laundering (PLDFT).
- Portfolio Risk Analysis: Identifies criminal linkages in crypto holdings.
Strategic Partnerships
| Partner | Role |
|---------|------|
| Kryptus (Cybersecurity firm) | Ensures operational security via advanced tech controls. |
| KPMG | Audits asset flows and designs custody business models. |
Phased Rollout Plan
Stage 1: Bitcoin Custody
- Initial focus on Bitcoin to ensure robust infrastructure.
Stage 2: Expanded Offerings
- Gradually support additional cryptocurrencies (e.g., Ethereum, stablecoins).
"We’re building step-by-step to prioritize security and scalability," says Paloma Sevilha, Bitrust’s Business Lead.
FAQs
Q: When will Bitrust fully launch?
A: Pending CVM approval, expected H1 2024.
Q: How does Bitrust differ from exchanges?
A: It provides regulated custody—not trading—ensuring asset safety for institutions.
Q: What’s the investment behind Bitrust?
A: 2TM allocated ~10M BRL for tech security and partnerships.
Conclusion
Bitrust’s entry marks a pivotal step for Brazil’s crypto economy, offering institutions a secure, localized alternative to offshore custody. With partnerships like Kryptus and KPMG, the platform combines regulatory compliance with cutting-edge blockchain security.
👉 Learn about global crypto custody trends
### Keywords:
1. Crypto asset custody
2. Bitrust
3. CVM regulatory sandbox
4. Blockchain security
5. Institutional investors
6. Digital assets
7. Kryptus