“The only stock exchange of Brazil, B3 has announced its plans to introduce services like asset tokenization, digital asset custody and even plans to introduce a crypto ETF in the year 2022.”
B3, the only stock exchange present in Brazil through its President Gilson Finkelsztain has announced in an interview that they are planning to enter the crypto market by 2022. The exchange is exploring opportunities in the digital asset custody, asset tokenization, and crypto-as-a-service (CaaS) segments. The company is taking the step to move forward with the rapidly evolving crypto industry. The exchange also revealed that it does not want to become a crypto exchange but provide the crypto as a service to its traders so that they can diversify their portfolio even more.
B3 also plans to launch a crypto Exchange Traded Fund (ETF) but did not disclose the constituents of the ETF or what assets the ETF would hold. Already there are about 5 ETFs that have been launched by various Brazilian companies in Brazil. This product will be a competitor to those ETFs. The adoption of crypto as a service by B3 can be linked to the statement by Brazil’s Central Bank in October “B3 could serve as the blockchain leader for the smart contract system of a Digital Real”.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investment.
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