2 years ago
B3, the Brazilian Stock Exchange, confirmed that wrong 6 months it intends motorboat its archetypal authoritative merchandise aimed astatine the cryptocurrency marketplace — Bitcoin futures trading. The group's main fiscal officer, André Milanez, made the announcement during a league telephone connected Monday.
Milanez did not supply galore details connected however the merchandise volition work. It is not yet known if B3 volition signifier a concern oregon if it volition connection Bitcoin futures trading directly, but the timeline for launching this merchandise was stated to beryllium comparatively short. "We program to motorboat bitcoin futures successful the adjacent 3 to six months," helium said.
Currently successful Brazil, organization and retail investors tin commercialized 11 ETFs done B3 with vulnerability to cryptocurrencies, including CRPT11 from Empiricus with Vitreo; the NFTS11 of Investo; QBTC11, QETH11 and QDFI11 each from QR Assets and META11, HASH11, BITH11, ETHE11, DEFI11, WEB311 each from Hashdex. In addition, successful Brazil determination are much than 25 concern funds approved by the Securities and Exchange Commission (CVM) that connection antithetic types of vulnerability to the crypto-assets market.
In January Jochen Mielke de Lima, manager of accusation exertion astatine B3, had already said that the Brazilian banal speech would motorboat respective products with vulnerability to cryptocurrencies successful 2022, including Bitcoin futures and Ethereum futures
At the time, the enforcement highlighted that the Brazilian banal speech had been looking intimately astatine the cryptocurrency marketplace from a technological constituent of view since 2016.
According to the statement, B3 lone needed to settee the question connected whether the negotiations would beryllium carried retired against the US dollar oregon against the Brazilian real. Futures contracts request a notation index, truthful if the squad chooses Brazil's autochthonal currency, it volition beryllium indispensable to constitute a crypto-assets scale successful reais — thing that does not beryllium today.
The B3 rep besides said it is exploring ways to supply information inputs for the country’s cardinal slope integer currency, oregon CBDC.
B3 and Cryptocurrencies
In summation to BTC and ETH futures, B3 besides intends to connection services to nationalist cryptocurrency exchanges and to beryllium a benignant of 'centraliser' of custody and colony operations according to Jochen Mielke de Lima:
“We person astir 30 nationalist crypto exchanges, isolated from the planetary ones that run here. We could connection a work to facilitate and standardize their operations. I judge it has thing to research successful providing custody services and successful the colony process.”Mielke, besides stated that the cryptocurrency marketplace is precise akin to the regulated banal market, arsenic it involves issuing, trading, colony and custody. He stated truthful that B3 could assistance lick communal problems betwixt exchanges.
“We are identifying points of friction that we tin assistance resoluteness to look up, specified arsenic helping our customers supply the champion entree to their extremity customers,” helium said.
In addition, B3 plans different products based connected cryptocurrencies and blockchain to motorboat successful 2022. Among them, determination are studies connected a level for plus tokenization, cryptocurrency trading, cryptocurrency custody, among others.
"Trading and entree to liquidity centers: this means mitigating the complexities of accessing a fragmented, planetary and 24×7 market; Digital Asset Custody: providing reliable custody (hence, intent of blockchain transactions); Over-the-counter facilitation: this mode In this way, it wants to supply much information and ratio successful the question and DVP of integer assets; Capital ratio gains: thus, it wants to mitigate the pre-funded quality of operations and Crypto arsenic a service: marque it easier for clients to research the crypto marketplace with debased friction", highlighted B3.
For 2022, B3 reps said they foresee the authoritative motorboat of a reinsurance platform. This volition enactment connected the Corda blockchain R3, and is simply a concern betwixt the speech and IRB Brazil.
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