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Subject to CADE approval, the transaction strengthens Evertec’s strategy in blockchain, tokenization, and digital asset infrastructure in Brazil
Evertec, a leader in payment processing and financial technology in Latin America and the Caribbean, has signed an agreement to acquire a majority stake in BBChain, a Brazilian startup specializing in blockchain infrastructure for financial institutions. Pending approval by Brazil’s Administrative Council for Economic Defense (CADE), the country’s antitrust authority, the transaction marks a strategic milestone in Evertec’s expansion into Brazil’s digital assets, tokenization, and blockchain markets.
The transaction includes an initial investment of BRL 28 million (approximately USD $5.6M), giving Evertec a 67% ownership stake in BBChain. Structured in two phases, the agreement provides for Evertec to acquire a controlling interest at closing, with the remaining equity stake contingent upon the achievement of future performance milestones.
The acquisition expands Evertec’s role in Brazil’s digital assets ecosystem. This includes participation in industry initiatives alongside leading associations and institutions in the Brazilian capital markets sector, including pilot asset tokenization projects currently under development.
With the integration of BBChain’s technology, Evertec aims to expand its support for financial institutions across segments including funds, fixed income, and credit by providing blockchain infrastructure and connectivity with existing systems in a secure, scalable manner that meets Brazil’s regulatory requirements.
“This acquisition strengthens our capacity to deliver innovative and scalable solutions for financial institutions in Brazil and across Latin America,” said Claudio Prado, Executive Vice President and Head of Evertec’s operations in Brazil. “BBChain brings strong technical expertise and complementary capabilities that align with our product portfolio and long-term strategic priorities. More than adding a new technology, we are expanding the solutions we provide to clients across funds, fixed income, and credit, while creating a model that can be replicated in other markets throughout the region,” the executive added.
Founded in 2018 and headquartered in São Paulo, BBChain provides asset tokenization solutions, digital custody technologies, and enterprise blockchain infrastructure designed for financial institutions and capital markets participants in Brazil.
As part of Evertec’s integration strategy, BBChain’s technology will be incorporated into the company’s portfolio and scaled across Latin America, expanding business opportunities with banks, investment funds, and consortiums throughout the region, while supporting Evertec’s long-term growth strategy in Latin America and the Caribbean.
