Brazil Tokenization Report 2026
The third edition of Nexa's annual research looks at how tokenized assets have evolved, how financial markets and digital infrastructure are converging, and what artificial intelligence is doing to both.
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The Intelligence Layer
In 2024 we wrote because the technology to scale at low cost without losing quality already existed. In 2025, it was : real money started moving on-chain, stablecoins stopped being an experiment and became settlement rails, regulation reached the world's largest markets, and institutions stopped piloting and started deploying.
What has changed since is not that the infrastructure got better. It is that intelligence was layered on top of it, turning a ledger that records value into a network that acts on it. When every financial product is created natively on-chain, the rail becomes programmable end-to-end, and that is what gives the intelligence layer something to act on: agents operating on the client's behalf, under predetermined, auditable rules. It is a paycheck that lands, settles the bills, and puts what remains to work against the goals that were set.
That is the difference between AI in finance and agentic finance. AI in finance is a copilot for research. Agentic finance is the market gaining a new kind of participant, one that never stops working, can serve one individual's needs as readily as a million, and operates inside rules you wrote.
A few years from now, there will not be a tokenized market, an agentic layer, and a traditional market. There will be an agentic market. And then just the market. Until the next disruption.
This report navigates through the various roads to get there: the money, the products that are following it, and the democratization of intelligence.
Taken together, they lead to the same place: a layer of intelligence on an efficient rail.
Highlights from this edition
Proprietary data, use cases and ecosystem maps.
From the ecosystem, for the ecosystem.
The Brazil Tokenization Report is the result of collective work between Nexa and our 90-plus research partners. It brings together data, analysis and use cases from Brazil and other markets, connecting what is happening in the infrastructure to what is changing in how investments are created, distributed and reached.
- Proprietary surveys
- 6Proprietary surveys
- Research partners
- +90Research partners
- Companies in the ecosystem map
- +150Companies in the ecosystem map
- Use cases
- +50Use cases
Research partners
The companies that shaped this year's research, across every layer of the market.
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The editions that brought the market here
- 2025 edition
Brazil Tokenization Report 2025
The Convergence Moment
The second edition mapped where traditional institutions met onchain infrastructure.
- 2024 edition
Brazil Tokenization Report 2024
The Future is Now
How tokenization is reshaping financial markets, with Brazil leading on regulation and innovation.
