Brazilian Fintech BEE4 to Launch First Local Tokenized Stock Marketplace

Working in a regulatory sandbox, the company will allow mid-sized companies to tokenize their public offerings on Quorum, a network running on Ethereum.

AccessTimeIconJul 20, 2022 at 11:26 p.m. UTC
Updated May 11, 2023 at 4:23 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

BEE4, a Brazil-based fintech company, plans to launch the first local marketplace of tokenized stocks in the next few weeks, BEE4 CEO Patricia Stille told CoinDesk on Tuesday.

  • Understanding the Success of Spot Bitcoin ETFs in Brazil
    06:12
    Understanding the Success of Spot Bitcoin ETFs in Brazil
  • Understanding the Success of Spot Bitcoin ETFs in Brazil
    06:12
    Understanding the Success of Spot Bitcoin ETFs in Brazil
  • Hashdex CEO Discusses Brazil's 'Sophisticated' Market for Crypto
    01:15
    Hashdex CEO Discusses Brazil's 'Sophisticated' Market for Crypto
  • Sam Bankman-Fried's Lawyers Push for FTX Founder's Jail Release Again; Crypto Coin Listing Crack Down
    02:21
    Sam Bankman-Fried's Lawyers Push for FTX Founder's Jail Release Again; Crypto Coin Listing Crack Down
  • The company plans to replicate the structure of a stock exchange and will allow Brazilian companies with annual revenue between $1.8 million and $55 million to make public offerings of up to $19 million.

    Last September, BEE4 was chosen by the Brazilian Securities and Exchange Commission (CVM) to participate in a regulatory sandbox, along with SMU, a secondary crowdfunding market, and QR Vórtx, a tokenizer issuing bonds and credit rights investment funds.

    According to Stille, investments in early stage companies have been reserved for large funds or investors with large amounts of capital and access to private rounds. “BEE4 comes to give general investors access to this,” she said.

    The BEE4 platform will offer buy and sell orders, an open bid book, a trading floor and auctions. It will run on the Quorum network, based on the Ethereum blockchain, on which companies will tokenize their public offerings, Stille said.

    Asset tokenization is a hot area in Brazil. In December, Brazil’s only stock exchange, B3, said it was exploring opportunities in the asset tokenization, digital asset custody and crypto-as-a-service (CaaS) segments. And last week, Itaú Unibanco, Brazil's largest private bank, announced its plans to launch an asset tokenization platform that transforms traditional finance products into tokens.

    This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese can be found here.

    Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Rodrigo   Tolotti

    Rodrigo Tolotti is a crypto editor at InfoMoney, a leading financial news publication in Brazil. He graduated in Journalism from Faculdade Cásper Líbero.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.