The country’s only exchange is evaluating opportunities in asset tokenization and digital asset custody, and it also plans to launch a crypto ETF.
Brazil’s only stock exchange, B3, plans to enter the crypto market in 2022, InfoMoney reported, citing a Dec. 10 presentation from B3 President Gilson Finkelsztain.
- B3 is exploring opportunities in the asset tokenization, digital asset custody and crypto-as-a-service (CaaS) segments, InfoMoney reported.
- The San Pablo-based stock exchange is also considering services to facilitate over-the-counter (OTC) trading and access to liquidity centers.
- “It is natural for us to expand into the unregulated world of cryptocurrencies,” said Finkelsztain, who added that B3 is not planning to be a crypto exchange but to provide services to crypto traders.
- B3 expects to launch a crypto exchange-traded fund (ETF), although it did not establish which index a potential ETF would replicate.
- Brazilian companies have launched five crypto ETFs. Crypto asset manager Hashdex has launched three of these products, while fintech company QR Capital has released the remaining two.
- In October, Brazil’s Central Bank said that B3 could serve as the blockchain leader for the smart contract system of a digital real (CBDC).