Brazil Stock Exchange B3 Plans to Enter Crypto Market in 2022: Report

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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 San Pablo-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 to 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 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).

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