Brazil’s largest stock exchange to launch cryptocurrency products

The largest stock exchange in Latin America, B3 (the São‑Paulo Stock Exchange), plans to enter the cryptocurrency market in 2022. According to InfoMoney, the venue is considering launching a range of products, including ETF, OTC and custody service.

The plans were outlined by the platform’s parent company president Gilson Finkelstein at an investor conference.

“For us, this is a natural move — to enter the unregulated cryptocurrency market. We will not become an exchange, but we are ready to offer services as Crypto-as-a-Service for those who intend to trade digital assets.”, he noted.

The senior executive cited options including custody of cryptocurrencies, asset tokenisation, access to off-exchange platforms, 24/7 liquidity provision and efficiency in capital deployment.

B3 also plans to launch a cryptocurrency exchange-traded fund after defining its core components.

As noted earlier, Brazil became the second in the world to approve a Bitcoin ETF. Subsequently, the local regulator allowed trading of Ethereum ETF.

In August, the president of the Central Bank of Brazil stated that work with the Securities and Exchange Commission on creating a regulatory framework for the crypto industry is under way.

Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions