Brazil’s Stock Exchange to Launch Trading of Cryptocurrencies in 2022

Brazil’s stock exchange- B3 plans to enter the crypto market in 2022, according to InfoMoney report citing a December 10 presentation from B3 President Gilson Finkelsztain.

B3 is exploring opportunities in the asset tokenization, digital asset customer and crypto as a service (CaaS) segment, InfoMoney reported.

The San Pablo based stock exchange is also considering services to facilitate over the counter trading and access to liquidity centers.

It’s natural for us to expand into the unregulated world of crypto, said Finkelsztain who added that B3 is not planning to be a crypto exchange but to provide services to crypto traders.

B3 expect to launch a crypto exchange trader fund although it did not establish which index a potential ETF would replicate.

Brazilian companies have launched five crypto ETFs. Crypto asset manager Hasdex has launched three of these products while fintech compony QR capital has the remaining two.

In October, Brazil central bank said B3 could serve as the blockchain leader for the smart contract system of a digital real (CBDC).