Cayman Islands Banking Giant Pivots to Crypto, Becomes Brazil’s Key Liquidity Provider
The Cainvest Group, a dominant banking institution in the Cayman Islands, has strategically transformed itself into a major cryptocurrency market player.
CEO Charles Aboulafia has steered the company from traditional banking services to becoming Brazil’s primary source of cryptocurrency liquidity.
Cainvest’s journey began in 2010 when it acquired SulAmerica International Bank, followed by purchasing Intertrust’s banking arm from Blackstone in 2015.
These acquisitions positioned Cainvest to control 60% of banks based in the Cayman Islands, serving major financial institutions like Itaú Unibanco, Société Générale, and Mizuho.
The company’s crypto pivot started in 2017 when it recognized blockchain’s revolutionary potential for financial services. By 2018, Cainvest began providing liquidity to Brazilian cryptocurrency exchanges through a proprietary trading system.
This infrastructure now connects to over 20 Latin American crypto exchanges. Cainvest estimates it provides 40% of the liquidity for Brazil’s institutional cryptocurrency market.
Cainvest’s Crypto Spin-Off and Launch of BRL1 Stablecoin
The operation grew so significantly that the company executed a spin-off to separate its crypto division from traditional banking operations. In March 2025, Cainvest partnered with Mercado Bitcoin, Bitso, and Foxbit to launch BRL1, a stablecoin pegged to the Brazilian real.
This digital asset aims to eliminate barriers between national and international exchanges while making the Brazilian market more liquid and attractive.
BRL1 operates on the Polygon blockchain and is fully backed by Brazilian reais and government bonds. The consortium expects the stablecoin’s volume to exceed R$50 million in 2025, potentially growing to R$100 million within its first year.
Cainvest also launched an investment product offering 85% capital protection against Bitcoin depreciation while allowing investors to capture up to 40% of the asset’s appreciation.
The global stablecoin market currently totals $246 billion and is projected to reach $2.8 trillion by 2028. Aboulafia sees tokenization as the future, comparing banks that ignore this trend to Blockbuster facing Netflix. “We are not just serving a revolution,” he states. “We are creating one.”
Live Market IntelligenceCrypto — Live Market Board
Rio Times · Live Market Intelligence
Crypto — Live Market Board
-0.26%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| BTC | 63,384 | -0.26% | -47.24% | 63,552 | 64,346 | 63,305 | 22,774,743,040 |
| ETH | 1,886 | +0.26% | -58.90% | 1,881 | 1,920 | 1,879 | 7,916,475,392 |
| SOL | 75.89 | -0.40% | -60.44% | 76.20 | 76.99 | 75.39 | 1,473,821,056 |
| XRP | 1.01 | -1.15% | -69.07% | 1.02 | 1.02 | 1.01 | 1,144,044,416 |
| BNB | 609.60 | -1.12% | -26.81% | 616.50 | 619.30 | 609.23 | 1,266,706,432 |
| ADA | 0.18 | -1.98% | -78.22% | 0.19 | 0.19 | 0.18 | 238,085,632 |
| DOGE | 0.07 | -1.56% | -70.00% | 0.07 | 0.07 | 0.07 | 553,256,192 |
| AVAX | 6.38 | +1.04% | -74.11% | 6.32 | 6.42 | 6.21 | 248,470,560 |
| LINK | 8.77 | -0.06% | -62.73% | 8.77 | 8.87 | 8.68 | 317,054,880 |
| DOT | 0.78 | -0.75% | -81.11% | 0.79 | 0.80 | 0.78 | 43,490,492 |
| LTC | 45.08 | -0.85% | -65.45% | 45.47 | 45.59 | 44.98 | 143,727,712 |
| BCH | 213.85 | +0.10% | -65.44% | 213.64 | 215.69 | 212.54 | 137,956,688 |
| TRX | 0.34 | +0.28% | -4.73% | 0.33 | 0.34 | 0.33 | 436,576,064 |
| XLM | 0.16 | -1.33% | -64.46% | 0.16 | 0.16 | 0.16 | 89,559,864 |
| HBAR | 0.07 | -0.53% | -74.67% | 0.07 | 0.07 | 0.07 | 22,546,186 |
| NEAR | 1.65 | +2.42% | -40.55% | 1.62 | 1.68 | 1.61 | 187,591,264 |
| ATOM | 1.40 | -2.36% | -70.15% | 1.44 | 1.44 | 1.40 | 18,626,964 |
| AAVE | 89.06 | +0.93% | -72.33% | 88.24 | 90.20 | 88.19 | 129,099,704 |
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