The leading blockchain analysis company, Chainalysis, revealed a new collaboration project with Brazilian bank Banco Topázio, which works with both traditional and fintech clients. As part of the partnership, Banco Topázio will utilize Chainalysis’s investigations solution – Chainalysis Reactor. With it, the Brazilian bank will be able to administer advanced due diligence to cryptocurrency businesses it caters with banking services, including but not limited to foreign exchange, deposits, withdrawals, and Bank-as-a-Service API solutions.

The Chief Revenue Officer at Chainalysis Jason Bonds noted:

“As one of the first financial institutions openly banking cryptocurrency businesses in Brazil, Banco Topázio is helping to lead the responsible growth of the cryptocurrency industry in Brazil. By working with us, Banco Topázio is setting the compliance standard ahead of the regulatory curve.”


Part of the Correa da Silva Group, Banco Topázio became an important component of the financial market in 2005, and became a bank in 2009. Working actively as a digital bank, in 2017 Banco Topázio transformed its services to be in line with the new technologies and the internet innovations brought to the financial sector. Cryptocurrency regulations are not yet finalized in Brazil but the bank is already investing in compliance technology and working on good practices in advance of the FATF guidelines enforcement. 

Lia Thomazzi Susin, Banco Topázio’s Exchange Manager, commented on the bank’s growth:

“We are constantly evolving our exchange processes, seeking technological excellence, a qualified team, and application of the best market practices, and the partnership with Chainalysis contributes a lot in this process, further strengthening the security and integrity of our operations with cryptocurrency.”

Chainalysis Reactor is an investigation software, which links cryptocurrency transactions to real-world entities. That way it allows law enforcement organizations to fight crypto-related illicit activities like fraud, money laundering, and extortion.

Raíssa Sanguinetti, exchange analyst at Banco Topázio, noted that Chainalysis Reactor “helps us validate our customers’ activity through the monitoring and analysis of their transactions, all publicly registered on the blockchain”.