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Latin America’s Largest Stock Exchange B3 Plan Enter Crypto Market By Launching Bitcoin Related ETFs, OTC, And Custodian Services

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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.

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Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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