Brazilian stock Exchange B3 announced that its move into crypto will lead to CaaS, digital asset custody and ETFs

B312, Brazil's stock exchange with a history of more than a century, announced on 10 December that it plans to start entering the cryptocurrency market in 2022, CEO Gilson Finkelsztain expects to introduce Caas, digital asset custody, over-the-counter convenience services, and even cryptocurrency funds.

B3(Brasil, Bolsa, Balcao) was founded in 1890 as the Brazilian Stock And Futures Exchange (BM&FBOVESPA), headquartered in Sao Paulo, Brazil. Is the country's futures trading hub. B3 president Gilson Finkelsztain said at a B3 Day event on Friday that B3 does not intend to become a crypto exchange, but rather responds to investor demand for access to regulated markets: We will certainly expand into the unregulated world of cryptocurrencies, but this is not a cryptocurrency exchange, it is a service to crypto traders.

B3 is currently studying tokenization of assets, custodial of digital assets, promotion of over-the-counter trading (OTC), introduction of liquidity centers and Crypto as a service (CaaS), although specific plans have not yet been announced. But Gilson Finkelsztain revealed that B3 will also launch a cryptocurrency ETF(again, which currencies and indices it will track). In summary, B3 currently has the following six major efforts:

* Tokenization of assets: Facilitating digitization of assets, enhancing liquidity and liquidity

* Trading and access to liquidity centers: Reduce the complexity of access to decentralized, global and 24×7 markets (i.e., cryptocurrencies)

* Digital Asset Escrow: Improve reliable Escrow services

*OTC facilitation: Provides greater security and efficiency of mobile, Simultaneous delivery (DVP) of digital assets

* Capital efficiency gains: Alleviates pre-financing of Operations

*CaaS: As previously reported by Coin Circle, the cryptocurrency investment boom is rapidly sweeping Across Latin America's largest economy, with brazilians buying more than $4 billion worth of cryptocurrencies since the beginning of this year. And continued to buy more than $350 million a month, with May recording the highest monthly total of $756 million. Aureo Ribeiro, a member of Parliament for Brazil's Unity Party, also proposed a new draft on Tuesday that would legalize Bitcoin as a Payment Currency in the country. "It's easier for people to use and invest in cryptocurrencies from a regulatory level." Besides B3, at least four cryptocurrency ETFs have been created in the country, among which HASH11, which tracks the Nasdaq Crypto index fund, is the most successful. Brazilians can also invest in two other Bitcoin ETFs and one Ethereum ETF.