“Can Brazil's pioneer crypto exchange become the embedded crypto infrastructure layer for Brazilian banks and fintechs while building a parallel offshore crypto-bank for retail?”
Founded 2014 as a pure Bitcoin exchange in Brazil, Foxbit evolved into a 360º crypto ecosystem (Grupo Foxbit) spanning B2C exchange, OTC desk (Prime Desk), crypto payment gateway (Foxbit Pay), tokenization (Foxbit Tokens), and Crypto-as-a-Service (Compra Fácil) for banks. The company is positioning itself as crypto infrastructure for Brazilian financial institutions while also building a separate offshore arm (Foxbit Bank, Dominica) for USD/stablecoin banking, US equities, yield, and a crypto-linked card with cashback.
Foxbit discloses Foxbit Bank (in-house, Dominica) as its banking provider, according to the Embedded Finance Index 2026.
Foxbit does not disclose a bank charter of its own; its banking services are provided through Foxbit Bank (in-house, Dominica).
Foxbit processes payments through Foxbit Pay (self-operated) and PIX (direct). Disclosed money-movement rails: Pix.
Foxbit's lending and capital products are provided by Fenynx.
Foxbit's crypto products run on BitGo.
The Embedded Finance Index 2026 maps 5 layers in Foxbit's stack: Payments / PSP (Foxbit Pay (self-operated) and PIX (direct)); Money movement (Pix); Banking / BaaS (Foxbit Bank (in-house, Dominica)); Lending (Fenynx, Bitcoin-collateralized credit (BRL, USD, USDC, USDT payouts via PIX) — Fenynx partnership and Historic: Bitcoin-collateralized loans (R$1k–R$300k) — Rispar partnership (2021)); Crypto (BitGo).
Foxbit was founded by João Canhada and is founded in 2014, headquartered in Osasco, São Paulo, Brazil.
Foxbit has raised $20M+ (disclosed) in total (latest round: Series A, 2022).
Get a read on where your own stack stands against Foxbit and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.