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.

AccessTimeIconDec 14, 2021 at 1:45 a.m. UTC
Updated Dec 14, 2021 at 3:45 p.m. UTC

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

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).

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

CoinDesk - Unknown

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.