Under the Central Bank's Joint Resolution 14, minimum capital is now tied to the activities a firm performs: a prepaid payment institution must hold R$12.4 million without Pix and R$17.4 million with Pix, up from roughly R$2 million. The phase-in began July 1, 2026 (a quarter of the gap now, half in January 2027, full requirement by January 2028), and the Central Bank estimates 679 of 1,751 firms (about 39%) could fall short, with P2P lenders around 92% exposed and payment institutions 63%.
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Brazil hikes fintech minimum capital rules, phase-in began July 2026
Why this matters for founders
Fintech and payment founders should model the higher capital floor and the staggered 2026 to 2028 deadlines into their runway and fundraising now, especially P2P lending, microcredit, and Pix-enabled prepaid models that are most exposed.
Source: The Rio Times
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