Brazilian Inventory Alternate set to launch Bitcoin and Ethereum futures
The Brazilian Inventory Alternate, B3, is ready to launch its first official crypto-related product throughout the subsequent six months, André Milanez confirmed in a convention name on Monday.
Milanez, who’s the group’s chief monetary officer, mentioned B3 plans to launch “ futures within the subsequent three to 6 months.” The small print of the product are nonetheless sketchy as Milanez didn’t disclose if the alternate will supply Bitcoin futures buying and selling straight or kind a partnership to supply the service.
In January, Jochen Mielke de Lima, director of data know-how at B3, mentioned that the inventory alternate would launch merchandise providing crypto publicity this yr, together with Bitcoin and futures.
Again then, he disclosed that the Brazilian inventory alternate had been inspecting the cryptocurrency market from a technological standpoint since 2016. Notably, whether or not negotiations wanted to be accomplished in opposition to the Brazilian actual or the US greenback. If the previous was chosen, a crypto-asset index in reais must be developed, one thing that doesn’t but exist.
Along with its crypto futures plan, B3 can be seeking to supply companies to crypto exchanges, performing as a sort of “centralizer” of custody and settlement operations. Lima mentioned:
Now we have round 30 nationwide crypto exchanges, aside from the worldwide ones that function right here. We may supply a service to facilitate and standardize their operations. I imagine it has one thing to discover in offering custody companies and within the settlement course of.
Moreover, B3 has different crypto-based merchandise in its arsenal, together with a platform for crypto buying and selling, asset tokenization, and cryptocurrency custody.
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