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).