Brazil Stock Exchange B3 Plans to Enter Crypto Market in 2022: Report

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Brazil’s solely inventory trade, B3, plans to enter the crypto market in 2022, InfoMoney reported, citing a Dec. 10 presentation from B3 President Gilson Finkelsztain.

  • B3 is exploring alternatives in the asset tokenization, digital asset custody and crypto-as-a-service (CaaS) segments, InfoMoney reported.
  • The San Pablo-based inventory trade can be contemplating companies to facilitate over-the-counter (OTC) buying and selling and entry to liquidity facilities.
  • “It is natural for us to expand into the unregulated world of cryptocurrencies,” stated Finkelsztain, who added that B3 isn’t planning to be a crypto trade however to present companies to crypto merchants.
  • B3 expects to launch a crypto exchange-traded fund (ETF), though it didn’t set up which index a possible ETF would replicate.
  • Brazilian firms have launched 5 crypto ETFs. Crypto asset supervisor Hashdex has launched three of those merchandise, whereas fintech firm QR Capital has launched the remaining two.
  • In October, Brazil’s Central Bank stated that B3 may function the blockchain chief for the smart contract system of a digital actual (CBDC).