Brazil stock exchange to enter the crypto world in 2022
B3, Brazil’s Sao Paulo-based stock exchange, has announced its intentions to enter the cryptocurrency market next year.
In a presentation by B3 president Gilson Finkelsztain, the company said it will explore the realms of asset tokenisation, digital asset custody, and crypto-as-a-service, while it will consider services to facilitate over-the-counter (OTC) trading and access to liquidity centres.
B3 also anticipates launching a crypto-related exchange-traded fund (ETF) but is yet to establish the index that the potential ETF would replicate.
Finkelsztain said the exchange operator is not planning to be a crypto exchange but simply to provide services to crypto traders.
The story was first reported by the local news title InfoMoney.
In October, Brazil’s Central Bank said B3 could operate as the blockchain leader for the smart contract system of a digital real – a central bank digital currency (CBDC).
A total of five Brazilian ETFs have been launched to date with three of them being launched by crypto asset manager Hashdex, while a fintech company QR Capital released the other two.
