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Brazil Stock Exchange B3 Plans to Enter Crypto Market in 2022: Report
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 Sao Paulo-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 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 other 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, a central bank digital currency (CBDC).
Andrés Engler
Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He follows the regional scene of startups, funds and corporations. His work has been featured in La Nación newspaper and Monocle magazine, among other media. He graduated from the Catholic University of Argentina. He holds BTC.
