The Central Bank of Brazil has prohibited fintech companies and payment service providers (eFX) from using stablecoins and cryptocurrencies for transactions with foreign partners. Starting from October 2026, the regulator mandates that settlements between eFX providers and foreign counterparts be conducted exclusively through traditional currency channels. The rules apply to payment organizations, electronic money issuers, and acquirers. However, VASP (Virtual Asset Service Providers) are still permitted to use stablecoins for international payments through a separate supervisory channel that will be operational from February 2026. Banks authorized as VASP can operate under this scheme without eFX restrictions. For instance, Braza Bank and its stablecoin BBRL (capitalization of $12.3 million) are already used for cross-border settlements in several networks.