Banco Topázio S/A
“Can a small Brazilian bank charter become the licensed rails underneath a generation of Brazilian fintechs and cross-border payment platforms?”
Founded2005
HQPorto Alegre, Rio Grande do Sul, Brazil
IndustryBank / National
The story
Banco Topázio began as a small traditional Brazilian bank chartered in 2005 and reinvented itself around 2019 as a B2B API-first bank specialized in FX (câmbio) and Bank-as-a-Service. Rather than compete with neobanks for retail deposits, it rents its banking licence to fintechs, payment institutions and cross-border players — a strategy validated when EBANX acquired ~30% of the bank in 2021 to secure FX and settlement capacity for its LatAm payments franchise.
Last 12 months
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Product timeline
2005
Banco Topázio S/A founded in Porto Alegre as a chartered multiple bank in Brazil.· banking
2019
Adopted a fully open banking model with open APIs to enable fintechs and partners to build on the bank.· pivot
2020
Reported 4x increase in loan issuance (R$500M via APIs) within 12 months of open-banking pivot; launched BaaS offering.· lending
2021
EBANX acquired ~30% stake in Banco Topázio to support cross-border payments capacity.· acquisition
2023
Published Pix conditions and Anexo IV governing account movement via API for BaaS partners.· banking
Regulated entities
1
regulatory licence held by Banco Topázio S/A
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Banco Topázio S/A’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting gap: significant
10 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.