Report: Brazilian Stock Exchange B3 Plans To Enter The Crypto Market In 2022

Besides exploring asset tokenization and digital asset custody opportunities, the country's only exchange plans to launch a crypto ETF.

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B3, Brazil’s only stock exchange, plans to enter the crypto market in 2022, according to InfoMoney, citing B3 President Gilson Finkelsztain’s presentation on Dec. 10.

  • InfoMoney reported that B3 is exploring opportunities in the asset tokenization, digital asset custody, and crypto-as-a-service (CaaS) segments.
  • San Pablo-based exchange is also considering facilitating over-the-counter (OTC) trading and access to liquidity centers.
  • “It is natural for us to enter the unregulated world of cryptocurrencies,” said Finkelsztain, who added that B3 does not plan to be a crypto exchange but to provide services for 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).
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