Changes to Margin, Futures, and xStocks for clients in Brazil

Last updated: 30 October 2026

Payward Brasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. ("Payward Brasil") is applying for authorization from the Central Bank of Brazil (BCB) to operate as a virtual asset service provider (VASP). As part of this process, margin, derivatives (futures), and xStocks will no longer appear in the default Portuguese-language platform Payward Brasil provides to clients in Brazil, but will be accessible on Payward’s global platform and provided by Payward entities located outside Brazil.

This article explains what's changing, why, and how to continue accessing these products and any existing holdings via our global platform.

What's changing

Starting 10/30/2026, clients whose verified (KYC) country is Brazil and whose app language is set to Portuguese (Brazil) or Portuguese (Portugal) will no longer see the following in the default Payward Brasil platform (Kraken app and Kraken Pro):

  • Margin trading
  • Futures / derivatives
  • xStocks (including xStocks used as collateral on Kraken Pro)

In the Kraken app, futures are called Perps and holdings appear in your Portfolio.

This includes menu entries, market listings, and in-app promotions for these products. Spot trading and other Kraken products are unaffected.

Why this is happening

As part of Payward Brasil’s regulatory transition, margin credit, derivatives, and tokenized securities (xStocks) will no longer be offered by Payward Brasil or displayed on its Portuguese-language platform. These products continue to be available to Brazil-based clients through other Payward group entities operating outside Brazil:

  • Margin credit is extended by Payward Trading Ltd. (British Virgin Islands)
  • Derivatives and xStocks are provided by Payward Digital Solutions Ltd. (Bermuda)

Access to these products is client-initiated.

Your existing holdings and positions are not affected

If you already hold margin, futures, or xStocks positions, nothing happens to them automatically:

  • Existing positions and balances continue to appear in your Balances and Positions widgets on Kraken Pro, or in your Portfolio in the Kraken app
  • Open orders continue to be monitored and will still execute if their conditions are met. They are not canceled.
  • Corporate actions on xStocks (dividends, splits, mandatory events, etc.) continue to apply as normal.

To view, manage, or close a position in one of these products, you’ll need to access it from the global platform, which is accessible by switching to Kraken’s global platform (see below).

How to access these products or existing holdings

These products aren’t removed from your account. They’re simply not shown on the Payward Brasil platform. You can access them at any time by following these instructions:

  1. 1

    Go to Settings > Language (Web) or your app’s language settings (Mobile).

  2. 2

    Select a language other than Portuguese (Brazil) or Portuguese (Portugal).

  3. 3

    Review and acknowledge the disclaimer, if prompted.

  4. 4

    You’ll then have full access to margin, derivatives, and xStocks, along with any positions you already hold via the global platform.

If you have an open margin, derivative (Perps), and/or xStock position:

  1. 1

    Tap the holding. The disclaimer appears straight away.

  2. 2

    Review the disclaimer and tap Continue. The app switches to English automatically, but you can select whatever language you prefer.

  3. 3

    You’ll then have full access to margin, derivatives, and xStocks, along with any positions you already hold via the global platform.

On web, this applies to xStocks only, as Perps trading isn’t available.

You can switch your language back to Portuguese at any time. Doing so will return you to the restricted, Portuguese-language experience.

About the disclaimer

If your verified country is Brazil and you use a language other than Portuguese, you’ll be asked to review and acknowledge a disclaimer before you can access margin, derivatives, or xStocks. Your acknowledgment is valid for 90 days, after which you’ll be asked again. If you use Portuguese, you may see a one-time message explaining how to access these products.

The disclaimer confirms that:

  • Margin credit, derivatives, and xStocks are provided outside Brazil by non-Brazilian Payward entities.
    • Additional detail: Margin credit, derivatives, and xStocks are provided by Payward group entities outside Brazil (Payward Trading Ltd. and Payward Digital Solutions Ltd.), not by Payward Brasil.
    • Derivatives and xStocks are not subject to Brazilian securities regulation, including Law No. 6,385/1976, and do not constitute a public offering of securities in Brazil.
  • By proceeding, you confirm that you are accessing these products on your own initiative.

When you tap an existing Margin credit, derivatives, or xStocks holding, the disclaimer also confirms that these products are not provided by Payward Brasil.

Spot virtual asset trading, intermediation, and custody continue to be provided by Payward Brasil.

Frequently asked questions

No. Existing positions are not force-closed as a result of this change. They remain visible in your account and continue to be manageable once you access them from the global platform.

No. Your existing xStocks holdings continue to display in your Balances on Kraken Pro, or in your Portfolio in the Kraken app. Only the ability to discover or buy new xStocks is available on the global platform.

This is based on your account's verified (KYC) country, not your physical location or IP address. If you're a Brazil-verified client traveling outside Brazil, or using a VPN, the same rule applies.

Yes. If the master account is verified in Brazil, the same restriction applies across associated subaccounts.

No. Access continues to be available at any time via a user-initiated language change. This is not a temporary window or a one-time opportunity.

Not unless you want to view or manage a margin, derivatives, or xStocks position, or explore these products. In that case, follow the steps above to access the global platform.

As part of Payward Brasil’s regulatory transition, these products are no longer displayed on its Portuguese-language platform. They remain available through Payward group entities outside Brazil.

Important notice: Margin credit is extended outside Brazil by Payward Trading Ltd., not Payward Brasil. Derivatives and xStocks are provided outside Brazil by Payward Digital Solutions Ltd., licensed by the Bermuda Monetary Authority, and do not constitute a public offering of securities in Brazil under Law No. 6,385/1976. Spot virtual asset trading, intermediation, and custody services related to these products are provided by Payward Brasil. Access to margin, derivatives, and xStocks is arranged solely at the client's initiative.