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.

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

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).

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Andrés Engler is a CoinDesk business reporter based in Argentina, where he covers the Latin American crypto ecosystem. He holds no crypto.