Latin America’s (Brazil) largest stock exchange B3 (São Paulo Exchange) plans to enter the cryptocurrency market in 2022.
According to InfoMoney, the exchange is considering launching a series of products, including Bitcoin and Crypto-related ETFs, OTC, and custodian services.
The plans were announced by the president of the company, Gilson Finkelstein, during a conference with investors.
“It’s a realistic decision for us to enter the unregulated cryptocurrency market. We will not become an exchange, but we are ready to offer Crypto-as-a-Service for those who intend to trade digital assets.”
The top manager mentioned the storage of cryptocurrencies, tokenization of assets, access to over-the-counter platforms, providing access to liquidity in 24/7 mode, will be the primary services B3 will be providing.
B3 also plans to launch Bitcoin exchange-traded fund (ETF) after defining its basic components.
Recall that Brazil is the second in the world to approve a Bitcoin ETF and also allowed Ethereum-ETF trading.
In August, the President of the Bank of Brazil announced that he was working with the Brazil SEC to create a regulatory framework for the crypto industry.