This article examines the evolution and challenges of digital financial inclusion in Brazil, with particular attention to its contribution to the Sustainable Development Goals (SDGs). It briefly traces the transition from microfinance to digital financial inclusion, highlighting how financial services can promote poverty reduction and social equity. Digital financial inclusion holds significant potential, especially through initiatives such as Pix, the instantaneous payment system designed, implemented, and managed by the Brazilian Central Bank. The synergy between financial inclusion and social policy is exemplified by Bolsa Família, the conditional cash transfer program that has played a central role in expanding financial access for low-income populations while also fostering the growth of digital financial services. Both Pix and Bolsa Família have enhanced access to and use of financial services in Brazil. However, the expansion of consumer credit and persistently high interest rates raise concerns about the sustainability of financial inclusion, particularly due to the risks of over-indebtedness. The article concludes by underscoring the need for continuous regulatory improvements, coupled with ongoing innovation and a strong ethical commitment, to ensure that digital financial inclusion remains a driver of sustainable development. It also calls for further research and policy efforts to better address the complexities of digital finance and its impact on welfare in Brazil.