Under Joint Resolution 14 (National Monetary Council and Banco Central, Nov 2025), prepaid payment institutions offering Pix must hold R$17.4m in minimum capital (R$12.4m without Pix), up from the old R$2m floor. The rule phases in starting July 1, 2026 at 25% of the gap, rising to 50% in January 2027 and 100% in January 2028. Roughly 679 of 1,751 institutions face shortfalls totaling about R$8bn.
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Brazil phases in higher minimum capital for Pix payment institutions from July 2026
Why this matters for founders
Fintech founders running or planning a payment institution should model the higher capital floor now and pick a compliance path (fresh capital, retained earnings, narrowing activities, or a merger) well before the January 2028 full-requirement deadline.
Source: The Rio Times
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