A Lisbon fintech closes its first Brazilian client during Web Summit week. The client will pay in reais, the fintech invoices in euros, and next month it also needs to pay two local partners in Brazil. On the Brazilian side, the payment team has never handled the real, Pix or an FX contract. How do Brazil–Europe payments work for a company in 2026?
Money moves between Europe and Brazil through three kinds of route: a SWIFT transfer converted on the Brazilian side, a provider that pays out locally in BRL or collects in Brazil and settles in euros, or stablecoins converted at each end. On the Brazilian side every route is an FX operation under the Central Bank’s rules, so the choice depends on volume, frequency and who handles the conversion.
Why do Brazil–Europe payments matter now?
Three changes make the corridor easier to read than a few years ago. Brazil’s FX framework was rewritten by Law No. 14,286, of December 29, 2021, in force since December 31, 2022. Pix, the Central Bank of Brazil’s instant payment system, settles payments between accounts in Brazil in seconds, 24/7.
Since February 2, 2026, Brazil also treats international payments with virtual assets, including stablecoins, as FX operations. In the European Union, Regulation (EU) 2023/1114, known as MiCA, sets the rules for crypto-asset services and for stablecoins such as euro-denominated e-money tokens.
How does money move from Europe to Brazil?
A European company paying someone in Brazil usually chooses between three routes:
SWIFT transfer: euros leave a European bank, pass through correspondent banks and are converted to reais by the receiving bank in Brazil.
Local payout provider: the company sends euros to a provider, which converts and pays the recipient in BRL inside Brazil, often through Pix.
Stablecoins: euros or dollars are converted to a stablecoin, transferred on-chain and converted to reais in Brazil by an authorized institution.
The step-by-step mechanics of the euro leg are in how EUR to BRL payments work for European companies.
How does money move from Brazil to Europe?
In the other direction, a Brazilian company paying a European supplier closes an FX contract with an authorized institution, converts reais into euros and sends the payment abroad. The contract records the nature of the operation, such as payment for services or for imported goods, which also sets the tax.
Brazil charges IOF, a tax on FX operations, on most outflows. Under Decree No. 6,306/2007, as amended in 2025, outflows in general, including payments for services, pay 3.5%, while payments for imported goods are exempt. For the exporter’s view of this flow, see how foreign exporters get paid by Brazilian importers.
What rules apply on each side?
Three sets of rules shape the corridor. They answer different questions, so a company usually needs all three in view.
1. Brazil: the FX framework
Law 14,286 and BCB Resolution No. 277, of December 31, 2022, govern how money enters and leaves Brazil, who may operate FX and what each operation must record. Every euro that becomes a real, or the reverse, passes through an institution authorized to operate in this market.
2. Brazil: stablecoins as FX
BCB Resolution No. 521, of November 10, 2025, added article 76-A to Resolution 277. International payments with virtual assets, transfers to or from self-custodied wallets and the purchase, sale or exchange of stablecoins are FX market operations. A stablecoin route to Brazil follows the same framework as a bank transfer.
3. Europe: MiCA
On the European side, MiCA governs the issuance of crypto-assets and the provision of crypto-asset services across the EU. For a company using a euro stablecoin, this is the rulebook that applies to the issuer and to the service provider it works with in Europe.
How does a two-way corridor work? An example
A Spanish software company receives EUR 40,000 from a client in Brazil and, in the same month, pays BRL 150,000 to a local implementation partner. The values are illustrative.
The Brazilian client closes an FX contract for the payment of services, converts reais into euros and sends EUR 40,000 to the Spanish company’s account.
The Spanish company sends euros to a payout provider, which converts them and pays BRL 150,000 to the partner through Pix.
Each leg is a separate FX operation in Brazil, with its own documents, rate and tax treatment, and the finance team reconciles both in euros.
Whether to net the two flows, keep a balance in reais or convert each payment depends on volume and on the provider’s structure.
Meeting us at Web Summit Lisbon? Book a time with our team at Pavilion 4, stand E425.
How does Transfero connect Brazil and Europe?
Transfero is a financial infrastructure company that connects banking rails, blockchain networks and liquidity for businesses and financial institutions. The Transfero Payments Network (TPN) is one orchestration layer that links these rails, with 24/7 settlement.
Cross-border payments with predictable 24/7 pay-outs across multiple countries and more than 180 pay-out markets
Brazilian rails, including Pix collections and payouts
Institutional FX and access to multiple liquidity sources for high-volume transfers
A team covering Europe and Asia, led by Guilherme Murtinho, VP Europe & Asia
Transfero processed more than 9.8 million transactions in 2025. During Web Summit, the team is at Pavilion 4, stand E425, from November 9 to 12, and Guilherme Murtinho speaks on the MoneyConf stage on November 11 at 10:35, Lisbon time.
Questions to ask before you open the corridor
Will money move in one direction or both, and how often?
Do your recipients in Brazil expect reais in a local account, through Pix?
Who closes the FX contract on the Brazilian side, and who keeps the documents?
Which IOF rate applies to each payment type in your flow?
Would a stablecoin leg reduce friction, and does your European provider operate under MiCA?
How will your finance team reconcile payments in euros and reais?
Talk to Transfero’s team about payments between Brazil and Europe, in Lisbon or online: get in touch.
Frequently asked questions
Can a European company pay a Brazilian supplier through Pix?
Not directly from a European account, because Pix runs between accounts in Brazil. A payout provider can receive the euros, convert them and pay the supplier in reais through Pix, so the supplier sees a local transfer while the European company sends euros.
Is receiving euros in Brazil taxed?
Inflows to Brazil pay IOF at 0.38% in general, and export revenue is taxed at 0% under Decree 6,306/2007. Rates depend on the nature of the operation recorded in the FX contract, and other taxes may apply to the underlying income.
Are stablecoin payments to Brazil legal?
Yes, within the FX rules. Since February 2, 2026, Resolution 521 treats international payments with virtual assets and the purchase or sale of stablecoins as FX operations, carried out through institutions authorized in Brazil.
Does a European company need a Brazilian entity to receive payments from Brazilian clients?
Not necessarily. A Brazilian client can pay a foreign company abroad through an FX contract, or a provider can collect in reais inside Brazil and settle in euros. A local entity becomes relevant when the company starts to operate in Brazil itself.
