The IOF gap that changes the math
Wise's IOF depends on the direction. Converting reais to dollars, it is 3.5% (1.1% only if the transfer is for investment, Decree 12.499/2025); the other direction, dollars to reais, carries 0.38% IOF plus its conversion fee. Ruvo settles in dollar-backed stablecoins instead of running a traditional foreign-exchange operation, so it keeps 0% IOF on every operation, in both directions.
Converting reais to dollars: a worked example
Say you convert R$10,000 into dollars.
- Ruvo: 0.5% at the commercial rate into a digital-dollar balance, no IOF, about R$50. Taking it all the way to fiat dollars (ACH or Wire) is 0.5% more, 1% in total, still no IOF.
- Wise: 3.5% IOF (R$350) plus its conversion fee, about 4.2% in total, so roughly R$420.
Monthly savings on US$7,500 a month
Say you invoice US$7,500 a month and convert it to reais.
- Wise: dollars to reais carries 0.38% IOF (0% on correctly classified export revenue) plus its conversion fee, commonly around 0.9% all-in, roughly $65 to $70 a month ($780 to $840 a year).
- Ruvo (business): 0.3% with no IOF, about $22.50 a month ($270 a year).
Receiving and holding dollars
With Ruvo you get a US account number and routing number that accepts ACH, RTP (instant) and Wire. Receiving dollars is free, fiat or digital, with instant access.
- Hold your balance in digital dollars (USDC/USDT) for as long as you want.
- Spend it on an international card with 0% IOF and 0% spread (1% on non-dollar purchases).
- Move in and out with instant Pix.
Crypto and digital dollars, any wallet
Ruvo runs on digital-dollar rails, so crypto is native rather than an add-on:
- Receive digital dollars (USDC/USDT) from any external wallet.
- Send to any wallet, on-chain, whenever you want.
- Your balance is real, dollar-backed stablecoin that you hold and control.
What else Ruvo does that Wise does not
- Zero IOF on every operation, not just lower fees.
- Free dollar spend: no spread and no IOF on the card when you spend your dollar balance.
- Instant Pix in and out, so reais and dollars move in seconds.
- Near-instant settlement, versus hours to a business day on Wise.
When Wise still makes sense
Wise is genuinely strong outside the dollar corridor:
- Paying suppliers or contractors in euros, pounds and 40+ other currencies.
- A long-established global network with local bank details in several countries.
- One-off transfers to places where you don't need to hold dollars.
A note on fees
Third-party fees change often, and IOF rules for digital assets are still evolving in Brazil. The figures here reflect public data from mid-2026; always confirm current fees on each provider's official site before deciding.
Wise vs Ruvo, side by side
| Criteria | Ruvo | Wise |
|---|---|---|
| IOF | 0% | 3.5% (reais to dollars) |
| Convert reais to dollars | 0.5% (1% to fiat) | 3.5% IOF + fee |
| Convert dollars to reais | 0.3% business / 0.9% individual | 0.38% IOF + fee |
| Receiving dollars | Free, instant | Free to receive |
| Hold dollars | Digital dollars (USDC/USDT) | USD balance, no stablecoin |
| Crypto / wallets | Receive & send, any wallet | Not supported |
| International card | 0% spread, 0% IOF | Yes; IOF when funded in reais |
| Settlement | Instant | Seconds to 1 business day |
| Currency coverage | Dollar corridor (BR/US) | 40+ currencies |
Sources
- Decree 12.499/2025, IOF on international cards (Planalto)
- IOF rate guide for Decree 12.499/2025 (Lefosse)
- IOF on international travel, what changed (CRCSP)
Published on June 29, 2026 · Updated on October 7, 2026
Competitor prices and features may have changed since publication. Spotted something outdated? Write to ajuda@ruvo.com.
This content is for information only and is not financial or tax advice. How we write
