Three entities within the prudential conglomerate of Entrepay were ordered into extrajudicial liquidation by Brazil’s Central Bank on Friday: Octa Sociedade de Crédito Direto SA, Acqio Adquiración Instituição de Pagamento SA, and Entrepay Instituição de Pagamento SA.
The regulator said in a statement that the decision was driven by the weakened financial and economic condition of the conglomerate’s leading institution, as well as violations of regulations governing its operations. It also highlighted losses that placed creditors at “abnormal risk.”
The measure places the entities under an out-of-court liquidation process supervised by the Central Bank.
The regulator stressed that it will continue to use all legal tools at its disposal to investigate responsibilities in the case.
According to the statement, in line with applicable legal provisions, the results of these investigations may lead to administrative sanctions and referrals to the appropriate authorities.
Additionally, the Central Bank ordered the freezing of assets belonging to several current and former directors of the liquidated institutions.
Small footprint within Brazil’s financial system
The Entrepay conglomerate is categorized as a small entity under segment 4 (S4) of Brazil’s prudential regulatory framework.
As of December 2025, it accounted for about 0.009% of the total assets of the National Financial System (SFN).
The Central Bank noted that, despite its small size, the institutions being liquidated do not have funding instruments covered by the Credit Guarantee Fund (FGC), meaning such protections are not available in this case.
Cassio Haig Vartanian, a former employee, was appointed by the Central Bank as the liquidator responsible for managing the process.
The regulator said Vartanian previously served as a substitute liquidator at Companhia Hipotecção Brasileira (CHB).
Group says it was already winding down operations
Following Friday’s announcement, Grupo Entre said in a separate statement to local media that it had been informed of the Central Bank’s decision to liquidate Entrepay Instituição de Pagamento, Acqio Adquiración, and Octa Sociedade de Crédito Direto.
The group said it had already begun a structured process to wind down these businesses.
This effort, aimed at ensuring a smooth transition, was part of a broader strategic review of its business portfolio.
According to Grupo Entre, the process also sought to meet existing obligations and maintain operational continuity during the transition period. The company did not provide further details on the scope or timeline of the restructuring.
Cooperation with authorities and business continuity
Grupo Entre reaffirmed its commitment to fully cooperate with authorities, including providing all necessary clarifications as the liquidation process progresses.
The group said it will continue to monitor developments through appropriate institutional channels.
It added that its priority is to mitigate the impact on clients, partners, and other stakeholders as the process unfolds.
The company also noted that it maintains other businesses that will continue operating normally, despite the liquidation of the three entities linked to Entrepay.
The Central Bank reiterated that it will proceed with investigations into the circumstances surrounding the case, signaling that further administrative or legal consequences may arise depending on the findings.
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