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.
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.
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.
Learn more about Consensus 2023, 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.